Tether Shapes US Stablecoin Regulations

Tether, the leading player in the stablecoin market with a market cap of nearly $142 billion, has been actively engaging with US lawmakers to shape the regulatory framework for stablecoins in the country. This development comes as several stablecoin bills have been introduced in the US House and Senate recently.

According to a statement posted on X by acclaimed business journalist Eleanor Terrett, Tether is working with US lawmakers to develop a clear regulatory framework for stablecoins. The company's CEO, Paolo Ardoino, has confirmed Tether's commitment to supporting lawmakers in creating the best regulatory environment for stablecoins in the US.

Ardoino has also expressed Tether's intention to provide meaningful advice to the evolution process of the three stablecoin bills recently tabled in the US lawmaking houses. The company aims to ensure that its voice is heard in the legislative discussions, as it seeks to balance compliance with its business interests.

The first stablecoin bill, the STABLE Act, was introduced by Bryan Steil and French Hill. This bipartisan bill aims to create a regulatory framework for stablecoins and is currently under review. The GENIUS Act, tabled by Bill Hagerty, proposes federal oversight of payment stablecoins while preserving state regulatory authority and has secured bipartisan support. Maxine Waters, a senior lawmaker, has also submitted a stablecoin bill that would require issuers to register and maintain one-to-one reserves backed by US currency or approved assets.

The lawmaking houses aim to finalize these bills by April, indicating that stablecoin regulations are moving forward. As Tether positions itself as an active player in shaping US stablecoin policies, the company remains committed to compliance while ensuring its voice is heard in the legislative process.