Tether Collaborates With U.S. Lawmakers On Stablecoin Regulation

According to PANews, Tether, the issuer of the world's largest stablecoin USDT, is actively working with U.S. lawmakers to influence the regulatory approach towards these fiat currencies. Tether has faced criticism for alleged lack of transparency, as it has never undergone a full audit, opting instead for quarterly financial assessments by global accounting firm BDO. As Congress focuses on creating legislation to establish a regulatory framework for stablecoins in the United States, Tether CEO Paolo Ardoino has stated that the company is in active communication with lawmakers to support the proposed legislation and has pledged to comply with the laws once enacted. The legislation is expected to be signed into law by U.S. President Donald Trump as early as April. If passed, Tether will be required to undergo monthly audits by U.S. accounting firms and maintain a one-to-one reserve with regulator-approved assets.