Tether and other non-U.S. stablecoin issuers still have two years to settle U.S. compliance plans

The U.S. stablecoin bill known as the GENIUS Act has now reached its first anniversary, leaving non-U.S. issuers such as Tether with two years to determine how they will comply with American stablecoin issuance rules. Under the bill’s original timeline, federal financial regulators were supposed to complete the rulemaking process by the one-year mark. That has not happened, and the compliance route remains unclear. Based on the basic framework of U.S. standards referenced in the report, Tether’s USDT would need to undergo several major adjustments before the rules take effect if it is to meet the legal requirements. The update points to a transitional period for offshore stablecoin issuers, but the absence of finalized rules means key details of implementation are still unresolved. The report did not specify what those adjustments would involve, only that they would be significant under the current framework.