The GENIUS Law creates the first federal regulations for stablecoins in the U.S. It requires that they have full reserves and provide clear information. Critics argue that Tether, which has $156 billion in circulation and represents approximately two-thirds of the global stablecoin market, may struggle to meet these standards. This concern arises from its history of providing only partial reports and its use of a combination of bitcoin and precious metals in its reserves.
However, Ardoino insisted that Tether will not disappear. During the signing at the White House, he posted on X, expressing his pride in the 160 billion USDT issued worldwide and his optimism about the U.S. market.
“Now that President Trump has led the United States to adopt digital assets, we believe we can multiply them by ten and consolidate the global dominance of the dollar,” he wrote.
