Tether Focuses on Overseas Markets Amid U.S. Regulatory Developments

According to PANews, despite ongoing legislative efforts in the U.S. Congress to integrate stablecoins into mainstream finance, Tether CEO Paolo Ardoino remains focused on overseas markets. He is particularly attentive to the impact of the 'Genius Act' on foreign issuers. The favorable regulatory environment in the United States has also prompted Tether to advance the auditing process of its reserves by one of the Big Four accounting firms. Ardoino mentioned that Tether is currently in discussions with the firm. Presently, Tether releases quarterly attestations signed by BDO Italia SpA. Regarding the plan for major banks to jointly issue stablecoins, Ardoino expressed confidence in Tether's customer base, which consists of 3 billion unbanked individuals worldwide, indicating no concern about competition.