ME News reports that on July 19 (UTC+8), the U.S. stablecoin regulatory bill, the GENIUS Act, marked its first anniversary. Tether and other non-U.S. issuers have two years remaining to establish compliance strategies to meet U.S. stablecoin issuance requirements. The bill originally mandated that federal financial regulators finalize stablecoin rules before the one-year anniversary, but those rules have yet to be issued, leaving the compliance path uncertain. Under the basic framework of U.S. standards, Tether’s USDT must undergo several significant adjustments before the rules take effect to comply with legal requirements. (Source: ODAILY)
Tether and other non-U.S. stablecoin issuers have two years to comply with U.S. regulatory requirements.
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Summary
The US stablecoin regulation bill, the GENIUS Act, has passed its one-year mark. Non-US stablecoin issuers such as Tether have two years remaining to adapt to the compliance framework. Initially, regulators were expected to finalize rules by now, but no guidelines have been released. Tether’s USDT would require significant changes to meet the upcoming stablecoin regulatory requirements.
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