Tether to Mint USDT in US After New Law

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  • Tether gets the green light to issue USDT in the United States market. 🇺🇸💰
  • GENIUS Act lets Tether mint coins legally under a loophole called the “foreign issuer rule”. 🤔
  • Circle, not to be outdone, says audits prove they’re the trustworthy stablecoin. 👀

Tether’s about to start issuing USDT right here in the good ol’ US of A. This comes after President Trump signed the GENIUS Act on Friday. It’s a big deal, folks, the first step towards regulating stablecoins in America. Think of it like finally putting up some traffic lights on the wild west of crypto. 🚦

Tether Gets US Approval to Issue USDT

So far, Tether’s been playing it coy, only issuing USDT in places like El Salvador. But now, thanks to this new law, they can mint coins right here in the land of the free and the home of the…well, you know. And get this, they can still keep their headquarters overseas. It’s like having your cake and eating it too, eh? 🍰

Tether’s CEO, Paolo Ardoino, gave a speech at the White House after the signing. He promised to play nice with the regulators and even hinted at a brand new, all-American stablecoin. Sounds like they’re trying to cover all their bases. 🇺🇸🦅

But hold on, Circle’s not about to let Tether steal the show. Their CEO, Jeremy Allaire, was quick to point out that Circle’s been doing things by the book all along. They’re based in New York, they work with regulators, and they even publish audits showing how much money backs their stablecoin, USDC. Take that, Tether! 🎤⬇️

Circle’s been winning over big banks and investors with their transparency. Allaire thinks this new law will just make them even more popular. It’s like being the responsible kid who always does their homework while the other kid is busy trying to cheat off them. 🤓📚

GENIUS Act Could Change Everything for Stablecoins

The rivalry between Circle and Tether is heating up faster than a chili cook-off in Texas. Tether needs to prove they can play by the rules and be open about their reserves. Circle wants to be seen as the safe and reliable option. It’s like a game of chess, but with billions of dollars at stake. ♟️💰

The GENIUS Act could shake things up in the whole crypto market. More USDT on US exchanges could make it easier to trade Bitcoin, but it could also make things more volatile. Big transactions could send prices swinging like a pendulum on a rollercoaster. 🎢 And some smaller crypto firms might not be able to keep up with the new regulations. It’s survival of the fittest out there. 🦁

Both Ardoino and Allaire were at the White House for the signing. They even shook hands, but they didn’t exactly look like best buddies. It was like a tense standoff at high noon. 🤠

The real challenge for Tether will be navigating these new regulations. Investors will be watching closely to see if they’ll open up their books and play nice with the authorities. Circle, meanwhile, will be hoping to keep its squeaky-clean image. It’s a whole new ball game, folks. ⚾️

This could be a turning point for stablecoins in America. Other countries might follow suit with their own laws. For now, all eyes are on Tether and Circle to see who will come out on top in this stablecoin showdown. 🏆

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2025-07-21 00:06