Tether’s USDT hits 2-year countdown threatening its position on U.S. crypto platforms
The GENIUS Act has hit its first anniversary without U.S. regulators yet meeting deadlines to write regulations, though rules will be in full effect by July 2028.
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Summary
- The GENIUS Act that governs U.S. stablecoin issuers is complicated and a work-in-progress, but now that its first anniversary is reached, Tether and other non-U.S. issuers have two years left to figure out their compliance strategies.
- The one-year mark was supposed to see the federal financial regulators finishing their stablecoin rules, but none have done so, yet, leaving some compliance uncertainty.
- The basic outlines of the U.S. standards, though, would force the most widely circulated coin — Tether’s USDT — to make a lot of major changes before it could satisfy the law.
