Tether’s General Counsel Retires

Stuart Hoegner, the General Counsel for Tether and Bitfinex, has retired, resulting in Michael Hilliard taking over as the head of legal affairs for the stablecoin issuer and exchange.

According to a statement, Hoegner and Hilliard had previously worked together to lead the two companies’ legal efforts.

This change in leadership comes at a time when the European Union’s new regulation, Markets in Crypto-Assets (MiCA), has come into effect. MiCA imposes stricter regulations on stablecoin issuers, including mandates for reserves and liquidity.

Until now, Hoegner had played a vital role in navigating Tether and Bitfinex through challenging regulatory environments, the companies stated on Thursday. Hoegner had been with Bitfinex since 2014, as stated on his LinkedIn profile.

In response to the news, Tether CEO Paolo Ardoino expressed his gratitude for Hoegner’s contributions to both companies and his confidence in Hilliard’s leadership in continuing to strengthen their legal operations and guide them through the next phase of growth and innovation.