PANews reported on May 25 that, according to Bloomberg, although the U.S. Congress is reviewing bills that would further integrate stablecoins into mainstream finance, Tether CEO Paolo Ardoino stated that the focus will still be on overseas markets and the impact of the (Genius Act) on foreign issuers.
The more favorable regulatory environment in the United States has also prompted Tether to advance the auditing of its reserves by one of the Big Four accounting firms. Ardoino also stated that Tether is still in discussions with the firm. Currently, Tether releases a certification signed by BDO Italia SpA every quarter. Regarding the joint issuance of stablecoins by large banks, Ardoino stated that Tether's customer base consists of 3 billion unbanked individuals globally and is not worried about competition.