Stablecoin issuer Tether has announced the appointment of Jesse Spiro, a former PayPal executive, as its new head of government affairs. Spiro will oversee Tether’s policy initiatives and engagement with lawmakers, regulators, and key industry stakeholders.
Jesse Spiro Appointment
Before joining Tether, Jesse Spiro led regulatory relations for PayPal’s blockchain and digital currencies business. Previously, he served as chief government affairs officer at Chainalysis, a blockchain forensic firm that began collaborating with Tether in May to monitor USDT transactions on the TRON blockchain.
Strengthening Crisis Control
The appointment comes amid heightened scrutiny from U.S. lawmakers regarding Tether’s stablecoin and concerns about its potential misuse by countries like Russia, Iran, and North Korea to circumvent Western sanctions. Tether’s recent actions seem aimed at addressing these concerns, including allegations that Russian entities have been using USDT to evade sanctions and acquire components for drones and other equipment.
Reinforcing Compliance Commitments
The development also follows the recent formation of the T3 Financial Crime Unit, a joint initiative by TRON, Tether, and TRM Labs to combat illicit activity related to USDT on the TRON blockchain. The unit aims to leverage data, technology, and collaboration with law enforcement to disrupt illegal activities.
The appointment of Jesse Spiro as Tether’s head of government affairs underscores the company’s commitment to enhancing compliance and strengthening crisis control.
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