Tether’s USDT, the world’s largest stablecoin by volume, faces a more difficult path in the U.S. market as the GENIUS Act moves closer to enforcement and regulators prepare to set the rules for federally supervised stablecoin issuers. The law, signed one year ago, created the first major U.S. framework for payment stablecoins. It also placed issuers under tighter reserve, redemption, supervision and compliance standards. For Tether, the central question is whether USDT can continue to be listed and used by U.S. institutions once the current transition period ends. The issue is not whether stablecoin demand is rising. ... (full story)