Tether (USDT) is a stablecoin that’s meant to always be worth $1. It was originally introduced in 2015 by Tether, whose many top executives also work for the major cryptocurrency exchange Bitfinex. USDT currently heads the stablecoin industry in terms of both trading volume and market capitalization. USDT is collateralized with assets, and its issuer […]
The European Union (EU) is no stranger to taxation, and the digital currency Tether (USDT) is no exception. As a new asset class, USDT has attracted considerable attention from regulators and policymakers who seek to ensure that profits generated from this novel financial instrument are appropriately taxed. Given its regulatory uncertainty, it’s important for participants […]
Tether Holdings, the issuer of the stablecoin USDT, has claimed that every USDT in circulation is overcollateralized and backed “in excess of 81% by cash and cash equivalents” without any commercial paper exposure. In a blog post on February 16, Tether Holdings emphasized the soundness of their stablecoin, as US regulators appear to be scrutinizing […]
The taxation of US dollar transactions (USDT) in Canada can be a complicated and confusing endeavour for both businesses and individuals. In order to make sure that everyone is abiding by the laws and regulations, it is important to understand how the Canadian government deals with these types of transactions. When it comes to USDT […]
In the United States, Tether (USDT) is a type of digital asset or cryptocurrency that is regulated by the U.S. Internal Revenue Service (IRS). As such, individuals who own or transact with USDT are subject to taxation and must report their earnings to the IRS. This article will explain the basics of taxes related to […]
Over the years, USDT has become increasingly popular among cryptocurrency traders. However, it has also been subject to several controversies. Critics have questioned Tether’s transparency and if the company is actually able to redeem every USDT in circulation for $1 as they claim. Tether was embroiled in a legal battle with the New York Attorney […]
The USDT circulating supply grows as new tokens are minted; it decreases when USDT tokens are redeemed. Unlike other cryptocurrencies, such Bitcoin, there is no limit to how many more USDTs can be created – the number depends on what the market demands. The USDT market cap has been trending upwards for multiple years now. […]