💲 WSJ: GENIUS Adoption Is a Setback for Tether ( #USDT ).


▪The GENIUS Act would impose tough requirements on stablecoins and issuers, which could seriously hurt Tether's position .


▪According to GENIUS, issuers must provide 100% of reserves in liquid assets (cash/government bonds), conduct annual audits, ensure reserve transparency and register in the US.


▪The company primarily backs USDT with volatile assets (BTC, Gold) and does not disclose details of reserves.


▪Moving the headquarters to El Salvador is unlikely to help circumvent American demands.


▪Tether promises to conduct an audit starting in 2017.


▪The only way out for the crypto giant is to create a new stablecoin for the US, or focus on markets outside the US jurisdiction.

#Blackrock #CZ #Metaplanet


$BTC

image
June 25, 2025 at 6:04 PM
1
4