Tether engages with U.S. lawmakers on stablecoin regulation, advocating transparency while preparing for stricter audits and reserve requirements.
As U.S. lawmakers push for clearer rules on digital currencies, Tether, the world’s largest stablecoin issuer, is making its voice heard. The company engages policymakers to assist in developing stablecoin regulations that will determine future business operations in the American market.
According to Fox Business reporter Eleanor Terrett, the stablecoin USDT from Tether controls 60% dominance over the $230 billion stablecoin market volume. Although the company rules the market analysts still question its transparent practices. The lack of a complete audit remains a significant concern about Tether because the firm only presents quarterly audit reports from BDO which is a global accounting firm. The U.S. financial system counts Tether as a leading participant because the company maintains more than $114 billion worth of short-term treasury bills.
The leadership of Tether has positioned itself in front of Congress to push for stablecoin regulations as a key priority. The CEO Paolo Ardoino declares that Tether remains dedicated to debating proposed laws during discussions. Tether has made it clear that it stands ready to follow regulatory standards but maintains that its point of view should be included when regulatory laws are being developed.
Congress Targets Stablecoin Regulations with Tether Cooperation
The United States Congress examines different bills that aim to control stablecoin operations. Congressman Bryan Steil, who chairs the Financial Services GOP Digital Assets Subcommittee, stated that Tether participates in talks regarding the STABLE Act draft authored by Steil and French Hill.
Furthermore, the passage of both bills from Senator Bill Hagerty and Congresswoman Maxine Waters continues as part of a comprehensive legislative movement. Lawmakers work urgently to secure congressional approval on stablecoin regulation before April until President Trump gives his signature.
The new legislation includes substantial requirements that stablecoin issuers must follow. Tether needs to hire U.S.-based accounting firms for monthly audits and keep its reserves in matching amounts of regulator-approved assets.
The company engages with legislators to guide stablecoin regulatory structures while showing dedication to regulatory adherence and transparency to the public. This legislative effort may change how stablecoins operate within the United States financial system.
