CoinVoice has learned that, according to Coindesk, after U.S. President Trump signed the (GENIUS Act), the world's largest stablecoin issuer Tether announced that the company plans to ensure that its flagship stablecoin USDT (a token pegged to the U.S. dollar) complies with the (GENIUS Act), and to launch a new version of USDT for institutional users, implementing audit reforms and adjusting reserve structures. CEO Paolo Ardoino stated that the company 'earned $1.3 billion in profit last year' and is confident in responding to the new regulations.
Circle CEO Jeremy Allaire stated that the company has long been operating in compliance and described the GENIUS Act as 'officially legislating Circle's business model.'
Meanwhile, Coinbase CEO Brian Armstrong called for the market structure bill to be expedited, hoping to complete the legislative process by September 30, stating that 'GENIUS is the first step, and market rules are a key step.' [Original link]