The world’s largest stablecoin issuer, Tether, has laid out its plan after President Trump signed the long-awaited stablecoin legislation, also known as the GENIUS Act, into law. CEO Paolo Ardoino said shortly after the bill was signed into law that his company aims to ensure its dollar-pegged USDT complies with the GENIUS Act to enable users to trade it in the U.S.
Tether isn’t the only stablecoin issuer that laid out its plan. Its fierce competitor, Circle, will leverage the newly signed bill to establish more meaningful partnerships. The crypto ecosystem has never stopped buzzing since the passage of the bill, particularly the GENIUS Act, highlighting a new digital asset era.
Analyzing the New Stablecoin Legislation
In a landmark Crypto Week that witnessed a failed procedural motion, the three contested crypto bills not only passed the House but were signed into law. The GENIUS Act was passed with (308 – 122) votes, while the CLARITY Act and Anti-CBDC Act passed the House with a favorable (294-134) and (219-210) respectively. All three bills were signed by President Trump, who wasted no time, the following day at the White House.
The Anti‑CBDC Surveillance State Act banned a Fed-issued digital dollar, while the Digital Asset Market Clarity Act defined SEC/CFTC oversight roles. The GENIUS Act particularly caught the interest of crypto enthusiasts who waited to see Tether’s response. The new stablecoin legislation requires foreign issuers to adhere to stringent AML laws and undergo mandatory audit reserves.
Tether has long faced accusations of being non-transparent in its audit report and USDT issuance. Crypto enthusiasts are curious to know whether Tether boxes out due to pressure and leaves the United States or not. Paolo Ardoino has been talking, and it seems Tether would have no choice but to undergo a full reserve audit, something the company has never been subjected to since its emergence.
Tether Will Comply with the GENIUS Act to Register USDT
After Trump signed the GENIUS Act, Tether said it will bring USDT to the U.S. via the foreign issuer path. Paolo Ardoino said the company will comply with the new stablecoin law to allow USDT trading in the United States. Ardoino said the company has been working to ensure full compliance with the GENIUS Act. He called it “crazy” that some people thought Tether wouldn’t comply.
“We have three years to make sure this process can go through properly. We are going to be very precise and dedicated to that,” the CEO said. When asked if Tether would still launch a local stablecoin, an idea that was conceived in April, Ardoino said the plan was still in motion. First, it would have to get USDT approved under GENIUS.
Tether’s dedication to becoming regulatory compliant may not be so much good news to Circle, the world’s second-largest stablecoin issuer. Circle has always presented itself as a more compliant alternative to Tether. The CEO, Jeremy Allaire, said the company remains unaffected by the GENIUS Act, affirming that it enshrines in Circle’s way of doing business. Both CEOs attended the White House signing but did not interact.
What’s Next for the Crypto Industry?
Crypto legislation has hit escape velocity. Apparently, the United States is serious about being the world’s crypto capital. Signing the three contested digital asset bills marks the first major federal crypto laws, signaling strong institutional support. Although they were backed by heavy lobbying from industry players, these laws establish regulatory guardrails and investor safeguards.
However, criticism persists over ethics concerns, surveillance risks, and uneven power to draft exemptions. Some experts believe the bills have inadequacies, especially in regulating DeFi services. Our experts guess more bills would follow the three legislation signed earlier on Friday.
