### Table of Contents

1. Intensified Regulatory Scrutiny

2. Ripple's Stablecoin Project

### Intensified Regulatory Scrutiny

Ripple CEO Brad Garlinghouse has expressed concerns about the US government's apparent focus on Tether, the issuer of the widely-used USDT stablecoin. Highlighting uncertainty about the potential impacts, Garlinghouse underscored Tether's importance in the broader cryptocurrency ecosystem.

Garlinghouse's comments come amid increasing regulatory pressure in the digital asset sector, marked by significant events such as the arrest of Binance founder Changpeng Zhao and ongoing technological issues with Bitcoin.

Recent allegations that Tether has been used by terrorist organizations and individuals in US-sanctioned countries have drawn the attention of US authorities. In April, US Treasury Deputy Secretary Adewale Adeyemo raised concerns about Russia's use of USDT and other payment methods to evade sanctions during testimony before the Senate Banking Committee.

### Ripple's Stablecoin Project

At the same time, Ripple has announced plans to launch its own stablecoin, pegged 1:1 to the US dollar on the XRP Ledger. With the current stablecoin market valued at $150 billion, Ripple predicts substantial growth, expecting it to reach $2.8 trillion by 2028.

Garlinghouse's comments highlight the changing regulatory environment for stablecoins and the broader cryptocurrency market as authorities increase their scrutiny and oversight.