Tether, a leading issuer of stable coins, is reportedly in talks with members of the U.S. Congress to develop a comprehensive regulation of stable coins at the federal level.
According to Fox Business reporter Eleanor Terrett, #Tether according to Fox Business reporter Eleanor Terrett, Tether is reportedly in talks with House Finance Committee #Digital Assets Subcommittee Chairman Brian Steil and Representative French Hill over the STABLE Act. Both lawmakers introduced the bill on Feb. 6, and the discussion with Tether is an important step in shaping the conversation about stable coin oversight.
From me: offshore stable coin giant @Tether_ is working with U. S. lawmakers to influence the regulation of these fiat currencies in the United States. Work with them: The
@ STABLE Act is a piece of legislation aimed at regulating stable coin issuers operating in the US. The Act will require these companies to maintain an asset reserve at a one-to-one ratio, pre-approved by regulators and audited monthly by an independent U. S. accounting firm.
By applying these measures, the bill will ensure that stable coins (traditional assets such as the U. S. dollar and the U. S. dollar) are fully backed and transparent for transactions using stablecoins (digital currencies tied to traditional assets such as the U. S. dollar). Ultimately, the STABLE Act aims to enhance consumer protection and financial stability in the rapidly growing market for digital assets.
In addition, Paolo Ardoino, CEO of Tether, told Terrett that the company is working on two other projects. He added that the company is working on two stablecoin bills and that Tether will comply with the law no matter how it evolves.
We're not going to throw in the towel and let Tether die just because it doesn't adapt to U. S. law, the CEO said. However, there is still a lot of uncertainty about what will actually happen.
Under the proposed rules, Tether would be audited monthly by a U. S.
Tether's active dialog with U. S.
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