tl;dr
The chief executive of Tether, Paolo Ardoino, is reportedly collaborating with US authorities to shape regulations for dollar-pegged cryptocurrencies. Tether is actively involved in discussions regarding stablecoin bills introduced by US lawmakers, expressing willingness to comply with the eventual ...
The chief executive of Tether, Paolo Ardoino, is reportedly collaborating with US authorities to shape regulations for dollar-pegged cryptocurrencies. Tether is actively involved in discussions regarding stablecoin bills introduced by US lawmakers, expressing willingness to comply with the eventual regulations. The company advocates for its interests in the legislative process amid ongoing uncertainty.
Proposed regulations could require Tether to undergo monthly audits by a US accounting firm and maintain a 1:1 reserve-to-asset ratio approved by regulators. As of December 2024, Tether's website indicates $143 billion in net assets and $136 billion in total liabilities.
In a new post on the social media platform X, Fox Business journalist Eleanor Terrett reports that Paolo Ardoino and Tether are “actively engaging” with the US government on how to best form laws around stablecoins. According to Ardoino, not only will Tether advise on the stablecoin bills unveiled this month, the firm will comply with the law whichever way the regulation goes.
Last week, Representative Bryan Steil of Wisconsin and Representative French Hill of Arkansas released a discussion draft of the STABLE Act of 2025, which seeks to provide a regulatory framework for the issuance and operation of dollar-pegged crypto assets in the US. According to Terrett, Tether is engaged in the discussion of the bill’s draft.
Compliance with the proposed bills from Tether’s perspective would mean submitting to monthly audits by a US accounting firm and to maintain a 1:1 ratio of reserves to assets that are pre-approved by regulators. Currently, Tether’s website has a page entirely dedicated to transparency that updates data on its reserve assets on a daily basis. It shows that as of December 2024, Tether has $143 billion in net assets and $136 billion in total liabilities.