Tether, the leading stablecoin issuer with a market cap of approximately $142 billion, is making strategic moves to navigate the evolving regulatory landscape in the United States. In a significant development, the company is working closely with U.S. lawmakers to establish a clear regulatory framework for stablecoins.
Tether’s Role in Shaping U.S. Regulations
FOX journalist Eleanor Terrett recently revealed that Tether is actively engaging with U.S. legislators to help create a well-defined regulatory structure for stablecoins. In a post on X, she confirmed that Tether CEO Paolo Ardoino has expressed the company’s commitment to supporting policymakers in crafting the best possible framework for the industry.
Ardoino emphasized that Tether intends to contribute meaningful recommendations as Congress considers multiple stablecoin bills. He also underscored the company’s determination to ensure its voice is heard in these crucial discussions.
Key Stablecoin Bills Under Discussion
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Last week, at least three major stablecoin regulation bills were introduced in the U.S. Congress:
- STABLE Act: Introduced by Bryan Steil and French Hill, this bill aims to create a bipartisan regulatory framework for stablecoins and is currently under review.
- GENIUS Act: Proposed by Senator Bill Hagerty, this bill seeks to maintain state regulatory authority while introducing federal oversight for stablecoins used in payments. It has secured bipartisan support.
- Maxine Waters’ Bill: This legislation would require stablecoin issuers to maintain fully backed one-to-one reserves in U.S. currency or approved assets.
Reports indicate that lawmakers aim to finalize these bills by April. As the stablecoin market continues to grow, Tether is positioning itself as a proactive player in shaping U.S. crypto regulations. The company remains committed to compliance while ensuring that its perspective is well-represented in the legislative process.
For more updates on the evolving stablecoin landscape, stay tuned to The Bit Journal.
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