Who regulates Tether (USDT)?
As of 12 November 2026, official registers or lists name Tether International or USDT in 2 of the jurisdictions on this page: El Salvador, United Arab Emirates (ADGM).
Each row is what one register or official list shows for Tether, with the quote and the link. Where a register does not list Tether, the row says not found and gives the date of the check; that is a statement about that register only.
This page states what the official sources say. It is not legal advice.
| Jurisdiction | Role | What the register or licence says | Source | Checked |
|---|---|---|---|---|
| El Salvador | Issuer | Entity: The CNAD register of issuers of public stablecoin offerings lists Tether International, S.A. de C.V. as Active: "TETHER INTERNATIONAL, S.A. DE C.V. Active EME-0003"; Licence (as stated by the company): Tether International states, in its management report attached to the BDO assurance report, that it is an authorized Stablecoin Issuer and Digital Assets Service Provider under the Digital Asset Issuance Law of El Salvador (company statement, not a register): "The Company is an authorized Stablecoin Issuer and Digital Assets Service Provider under the Digital Asset Issuance Law of El Salvador"; Licence or registration number: CNAD registered Tether International as an issuer of public stablecoin offerings: registration number EME-0003, registration date 19/05/2025: "Registration number EME-0003 Registration date 19/05/2025"; Licence or registration number: The USDT issuance registration number on the CNAD list is ME-0003: "CNAD public offering ME-0003 19/05/2025"; Register entry: USDT is on the CNAD list of stablecoins authorized for distribution, by the route "CNAD public offering", registration ME-0003 of 19/05/2025, status Eligible: "USDT Tether International S.A. de C.V. CNAD public offering ME-0003 19/05/2025 Eligible"; Coverage: The CNAD list describes its public-offering route as issuances authorized in El Salvador: "CNAD public offering: issuances authorized in El Salvador." | CNAD register of issuers of public stablecoin offerings; Tether International management report (attached to the BDO ISAE 3000R assurance report); CNAD list of stablecoins authorized for distribution | 12 November 2026 |
| El Salvador | Intermediary | Register entry: The CNAD register of digital asset service providers lists Tether International as Active, PSAD-0028, registered 16/08/2024, authorized for the services the register lists from a) exchange of digital assets to f.4) executing orders in derivative digital assets: "TETHER INTERNATIONAL, S.A. DE C.V. Active PSAD-0028 WEBSITE tether.to/es REGISTRATION NUMBER PSAD-0028 REGISTRATION DATE 16/08/2024 AUTHORIZED FOR a) Exchange of digital assets for fiat money or its equivalent, or for other digital assets, using own or third-party capital b) Operating a platform for the exchange or trading of digital assets or derivative digital assets c) Risk and price assessment, as well as underwriting of digital asset issuances d) Placing digital assets on digital platforms or wallets e) Promoting, structuring and managing all kinds of digital asset investment products, as well as loans, mutual loans or any form of digital asset financing f.1) Transferring digital assets, or the means to access or control them, between individuals or legal entities or between different purchasers, electronic wallets or digital asset accounts f.2) Safekeeping, custody or management of digital assets or the means to access or control them f.3) Receiving and transmitting orders to buy or sell digital assets or to trade derivative digital assets f.4) Executing orders to buy or sell derivative digital assets" | CNAD register of digital asset service providers (DASP) | 12 November 2026 |
| European Union | Issuer | Coverage: Not found in the ESMA interim MiCA register of e-money token issuers (EMTWP.csv), checked 2026-11-12. | MiCA (Regulation (EU) 2023/1114), ESMA interim register | 12 November 2026 |
| Hong Kong | Issuer | Coverage: Not found in the HKMA register of licensees under the Stablecoins Ordinance (Cap. 656), checked 2026-11-12; the register lists 2 licensees. | Stablecoins Ordinance (Cap. 656) | 12 November 2026 |
| Japan | Intermediary | Coverage: Not found among the electronic payment instruments handled by registered providers in the FSA register of electronic payment instruments exchange service providers (list as of 27 August 2026), checked 2026-11-12. | Payment Services Act (electronic payment instruments register) | 12 November 2026 |
| United Arab Emirates (ADGM) | Issuer | Register entry: USDT (Tether International) is on the ADGM FSRA consolidated list of Accepted Fiat-Referenced Tokens; this is an accepted-token list, not an issuer licence: "USDT Tether USD Tether International"; Coverage: The ADGM list states that inclusion does not imply acceptance of the token for use when serving clients outside ADGM: "Inclusion of an FRT on this list does not imply acceptance of that FRT for use when serving clients in jurisdictions outside ADGM." | ADGM FSRA list of Accepted Fiat-Referenced Tokens (dated 1 September 2026) | 12 November 2026 |
European Union
MiCA (Regulation (EU) 2023/1114), ESMA interim register
Hong Kong
Stablecoins Ordinance (Cap. 656)
Japan
Payment Services Act (electronic payment instruments register)
United Arab Emirates (ADGM)Where official registers or lists name stablecoin issuers and their tokens
As of 12 November 2026, this table has 10 entries from official registers or lists in 4 jurisdictions. Each row gives the listing type: an issuer authorisation, a trust charter, a token acceptance, or a token handled by registered intermediaries.
A token acceptance or an intermediary register is not an issuer licence. A pair of issuer and jurisdiction that is not listed is not a finding that no authorisation exists.
| Entity named in the register | Token | Jurisdiction | Listing type | What the register or list says | Source | Checked |
|---|---|---|---|---|---|---|
| BitGo Bank & Trust, National Association | – | United States | Trust charter (OCC national trust bank) | BitGo Bank & Trust, National Association is on the OCC list of active national trust banks (a trust charter): "BitGo Bank & Trust, National Association" | OCC list of active national trust banks (as of 9/30/2026) | 12 November 2026 |
| Circle | USDC | El Salvador | Token accepted (not an issuer licence) | USDC (Circle) is on the CNAD list by the route "Non-Objection" (stablecoins issued in other jurisdictions), registration date 18/12/2023, Eligible; this is a distribution acceptance, not an issuer licence: "USDC Circle Non-Objection — 18/12/2023 Eligible" | CNAD list of stablecoins authorized for distribution | 12 November 2026 |
| Circle Internet Financial Europe SAS | USDC | European Union | Issuer authorised | Circle Internet Financial Europe SAS is listed in the ESMA interim MiCA register of e-money token issuers (home Member State FR): "Circle Internet Financial Europe SAS,969500OYUDADGZKCR583,FR" | ESMA interim MiCA register, issuers of EMT | 12 November 2026 |
| Circle Internet Financial | USDC | United Arab Emirates (ADGM) | Token accepted (not an issuer licence) | USDC (issuer named: Circle Internet Financial) is on the ADGM FSRA list of Accepted Fiat-Referenced Tokens; an accepted-token list, not an issuer licence: "USDC USD Coin Circle Internet Financial" | ADGM FSRA consolidated list of Accepted Fiat-Referenced Tokens (dated 1 September 2026) | 12 November 2026 |
| PAXO | PYUSD | El Salvador | Token accepted (not an issuer licence) | PYUSD (named on the list as "PAXO") is on the CNAD list by the route "Non-Objection" (stablecoins issued in other jurisdictions), no registration date shown, Eligible; this is a distribution acceptance, not an issuer licence: "PYUSD PAXO Non-Objection — — Eligible" | CNAD list of stablecoins authorized for distribution | 12 November 2026 |
| Paxos Trust Company, N.A. | PYUSD | United Arab Emirates (ADGM) | Token accepted (not an issuer licence) | PYUSD (issuer named: Paxos Trust Company, N.A.) is on the ADGM FSRA list of Accepted Fiat-Referenced Tokens; an accepted-token list, not an issuer licence: "PYUSD PayPal USD Paxos Trust Company, N.A." | ADGM FSRA consolidated list of Accepted Fiat-Referenced Tokens (dated 1 September 2026) | 12 November 2026 |
| Paxos Trust Company, National Association | – | United States | Trust charter (OCC national trust bank) | Paxos Trust Company, National Association is on the OCC list of active national trust banks (a trust charter): "Paxos Trust Company, National Association" | OCC list of active national trust banks (as of 9/30/2026) | 12 November 2026 |
| TETHER INTERNATIONAL, S.A. DE C.V. | USDT | El Salvador | Issuer registered | Tether International, S.A. de C.V. is registered, Active, in the CNAD register of issuers of public stablecoin offerings: registration number EME-0003, registration date 19/05/2025: "TETHER INTERNATIONAL, S.A. DE C.V. Active EME-0003 REGISTRATION Registration number EME-0003 Registration date 19/05/2025" | CNAD register of issuers of public stablecoin offerings | 12 November 2026 |
| Tether International | USDT | United Arab Emirates (ADGM) | Token accepted (not an issuer licence) | USDT (issuer named: Tether International) is on the ADGM FSRA list of Accepted Fiat-Referenced Tokens; an accepted-token list, not an issuer licence: "USDT Tether USD Tether International" | ADGM FSRA consolidated list of Accepted Fiat-Referenced Tokens (dated 1 September 2026) | 12 November 2026 |
| World Liberty Financial | USD1 | United Arab Emirates (ADGM) | Token accepted (not an issuer licence) | USD1 (issuer named: World Liberty Financial) is on the ADGM FSRA list of Accepted Fiat-Referenced Tokens; an accepted-token list, not an issuer licence: "USD1 World Liberty Financial USD World Liberty Financial" | ADGM FSRA consolidated list of Accepted Fiat-Referenced Tokens (dated 1 September 2026) | 12 November 2026 |
United States
OCC list of active national trust banks (as of 9/30/2026)
Cite as: Who regulates Tether (USDT)?, achivx.org, https://achivx.org/regulation/who-regulates-tether/, as of 2026-11-12, CC BY 4.0