
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? Hereโs everything you need to know.
Tetherโs Role in US Stablecoin Regulation
According to Terrett, Tether CEO Paolo Ardoino
Paolo Ardoino
Paolo Ardoino is the Chief Technology Officer at Bitfinex, established by iFinex in 2012. His interest in cryptography and distributed systems began during research for a military project, leading him to move to London in 2013, where he founded Fincluster.
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 ( refer for real time)
This technology startup developed a cloud-based Financial Service Application for Fund Managers and Institutions. Ardoino started his career at Bitfinex as a senior software developer in 2014 and was promoted to Chief Technology Officer two years later.
He additionally commands the company. Bitfinex had a significant year in 2020, launching a staking service, institutional-grade custody services, an open-source peer-to-peer streaming protocol, and a market surveillance tool, all under Ardoino's technical leadership.
Paolo Ardoino - Career Highlights & Events
2017: Joined Bitfinex as Lead Developer 2018: Became CTO of Bitfinex and Tether 2019: Advocated for Lightning Network integration 2020: Launched Tether Gold (XAUT) stablecoin 2021: Led backend enhancements for Tether scalability 2022: Promoted crypto education in Latin America 2023: Announced full audit initiative for Tether 2024: Proposed new USD stablecoin for the U.S. market
Tether's stablecoin, USDT, has grown to become the largest U.S. dollar-backed stablecoin by market capitalization. In 2017, Ardoino took on the role of Chief Technology Officer at Tether, which was founded in 2014. The exchange garnered attention for executing one of the largest Bitcoin transactions recorded.
Useful Links to Connect With Paolo Ardoino
Platform Link X (formerly Twitter) https://twitter.com/paoloardoino LinkedIn profile https://www.linkedin.com/in/paoloardoino Tether website https://tether.to/en/team Bit Finex website https://www.bitfinex.com/team
EntrepreneurDeveloper/ProgrammerFinanceChief Technology Officer confirmed the companyโs 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.
Tetherโs 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.
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