Tether is actively communicating with the U.S. Congress regarding the stablecoin regulatory bill, which may be completed by April

2025-02-15 10:11:43

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ChainCatcher news, according to FOX Business reporter Eleanor Terrett, Tether is actively communicating with U.S. lawmakers regarding a regulatory framework for stablecoins. Tether CEO Paolo Ardoino stated that they will actively participate in the legislative process.

Currently, there are three stablecoin bills progressing in Congress: the STABLE Act, the GENIUS Act, and the Waters proposal, which require issuers to maintain a 1:1 reserve, only hold highly liquid assets such as U.S. Treasury securities, and undergo monthly audits.

As the largest stablecoin issuer with a market share of about 60%, Tether currently holds over $114 billion in short-term Treasury securities. The Republican-controlled Congress plans to complete the legislation by April.

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