GENIUS Act’s current form is ‘great for Tether USDT’ – Here’s why! – BitRss

• According to analysts, the GENIUS Act could accommodate Tether with slight conditions
• The U.S. Senate Banking Committee has advanced the bill for debate and a vote

The U.S. stablecoin bill, GENIUS Act, is great for Tether’s USDT ($1.00) in its current form. This, according to policy watchers who have evaluated the package so far. 

In fact, according to Alex Thorn, Head of Research at Galaxy Digital, Tether now has the flexibility to register in the United States or operate offshore without dire consequences. He said, 

“In its current form, the GENIUS Act is great for tether. The door is open for them to register onshore, but if they don’t, they are only prohibited from: USDT being used for interbank settlement and  marketing USDT onshore as a ‘stablecoin’”
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