The CEO of USDT Stablecoin Issuer Tether is reportedly working with US authorities to build the Dollar Peg crypto assets law.
It's new post On social media platform X, Fox business journalist Eleanor Terrett reports that Paolo Ardoino and Tether are “actively involved” with the US government on how to best shape the law around Stablecoins.
According to Ardoino, Tether not only advises about the Stablecoin Bills announced this month, but also complies with the law in both regulatory ways.
“We're going to work within a regulatory framework. We'll try to advise on all of these field suggestions so that we can hear them…
We're not going to throw in the towel and let the tether die just to not fit into our laws. But there is still a lot of uncertainty about what will actually happen, and we hope that our voices will be heard in the legislative process. ”
Last week, Wisconsin representative Brian Steil and Arkansas representative of France Hills release Stable Law Discussion Draft for 2025. This seeks to provide a regulatory framework for the issuance and operation of crypto assets in the US for the Dollar family. According to Terrett, Tether is engaged in discussions on the draft bill.
representative Maxine Waters California and the Senators Bill Haggerty Tennessee also introduced a stubcoin-related bill this month.
According to the report, compliance with the proposed invoice from a Tether perspective is submitted to a monthly audit by a US accounting firm, and a 1:1 ratio of reserves to assets previously approved by regulators. It means to maintain.
Currently, Tether's website has a complete page Being alone Data about its reserve assets will be updated daily in line with transparency. As of December 2024, Tether's net worth is shown to have $143 billion and total debt of $136 billion.
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