
Tether, the leading stablecoin issuer with a massive market cap, is actively collaborating with US lawmakers on developing stablecoin regulations.
Tether's CEO has publicly stated the company's commitment to supporting the evolution of proposed stablecoin bills.
Three stablecoin bills are currently under review in the US Congress, and lawmakers aim to finalize them by April.
Tether, the largest stablecoin issuer, is stepping up its game in the U.S. With a market cap of nearly $142 billion, the company is actively working with lawmakers to shape stablecoin regulations. Business journalist Eleanor Terrett recently revealed in a post on X that Tether is directly involved in discussions to help create a clear regulatory framework.
This comes at a crucial time, as the U.S. House and Senate have introduced three different stablecoin bills in an effort to bring more oversight to the industry.
How does Tether come into the picture? Here’s everything you need to know.
Tether’s Role in US Stablecoin Regulation
According to Terrett, Tether CEO Paolo Ardoino
Paolo Ardoino Paolo Ardoino holds the position of Chief Executive Officer at Tether and Chief Technology Officer at Bitfinex, a leading crypto exchange firm. His enthusiasm for cryptography was ignited during his military research, which subsequently inspired him to establish Fincluster in London. He progressed from the position of senior developer to that of Chief Technology Officer at BitFinex in the year 2016. Under his guidance, Bitfinex introduced significant features such as staking, custody services, a peer-to-peer streaming protocol, and a market surveillance tool.
Quick Facts Full name Paolo Ardoino Birth 1984, Cisano sul Neva, Italy Nationality Italian Education Computer Science Degree from the University of Genoa Wife/Partner Claudia Lagorio Net worth $9.5 B
Experience CEO at Tether from Dec 2023 to present.
CTO from Dec 2017 to Apr 2024.
CTO at Bitfinex from Mar 2015 to Present.
Lead software engineer from Oct 2014 to Feb 2015.
Chief strategy officer at Holepunnch from January 2020 to present.
Partner at Fincluster from 2012 to 2015.Senior full-stack developer at Frame Asset Management from 2010 to 2012.
Joint Founder at Involutive snc from jan 2007 to Apr 2009.
Web programmer at Freelance Consultant from 2003 to 2008. EntrepreneurDeveloper/ProgrammerFinanceChief Technology Officer confirmed the company’s commitment to supporting lawmakers in building a strong and effective regulatory framework for stablecoins.
He also stated that Tether plans to actively participate in discussions and provide valuable input to help shape these laws. Ardoino stressed that the company wants to make sure its voice is heard as the regulations take form.
Three Stablecoin Bills Under Review
In the past week, at least three stablecoin bills have been introduced in the U.S. House and Senate. These proposals aim to establish clearer rules for stablecoin issuers:
- The STABLE Act, introduced by Congressman Bryan Steil and senior lawmaker French Hill, seeks to create a stablecoin regulatory framework with bipartisan support. The bill is currently under review.
- The GENIUS Act, proposed by Senator Bill Hagerty, calls for federal oversight of payment stablecoins while allowing states to retain some control. This bill has also gained bipartisan backing.
- Maxine Waters’ Stablecoin Bill would require issuers to register and maintain one-to-one reserves backed by U.S. dollars or approved assets, ensuring stability and consumer protection.
Reports suggest that lawmakers aim to finalize these bills by April, setting the stage for a more structured stablecoin market in the U.S.
Tether’s Role in Shaping Regulations
As stablecoin regulations move forward, Tether is making sure it plays an active role in the discussions. While the company remains committed to compliance, it is also advocating for its interests in shaping policies that will impact the broader crypto industry.
With new regulations on the horizon, the coming months will be crucial for stablecoin issuers and the wider cryptocurrency market.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.