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Tether's CEO Highlights Focus on Global Markets Amid U.S. Regulatory Challenges

Despite progress on U.S. stablecoin legislation, Tether emphasizes its commitment to international markets while monitoring regulatory developments through the Genius Act.

Summary

Tether CEO Paolo Ardoino confirms the company's primary focus will remain outside the United States, even as U.S. lawmakers advance stablecoin regulations. The company plans to comply with the Genius Act while maintaining its international focus. Both Senate and House bills would require stablecoin issuers to fully back tokens with cash or safe assets and comply with anti-money laundering regulations.

Terms & Concepts
  • USDT: Tether's stablecoin cryptocurrency pegged to the U.S. dollar, primarily used in emerging markets for remittances and value preservation.
  • GENIUS Act: The Guiding and Establishing National Innovation for US Stablecoins Act, proposed legislation to regulate stablecoin issuance in the United States.
  • stablecoin: A cryptocurrency designed to maintain a stable value by being pegged to a traditional currency or asset.