Tether Focuses Elsewhere While US Seeks to Regulate Stablecoins

While Congress is considering bills that would help integrate stablecoins more into mainstream finance, the largest issuer of the digital tokens says it will continue to focus on serving markets besides the US.

On Monday, an industry-backed regulatory bill known as the Genius Act made its way through the Senate. The House Financial Services Committee has approved its own stablecoin measure, but it has yet to pass the chamber.

“It is important for us to see how the Genius Act is distinguishing between foreign issuers and domestic issuers,” Paolo Ardoino, chief executive officer of Tether Holdings SA, said during ...