Tether CEO just said Tether will be launching a new product for the US financial markets which will comply with the regulations coming from the GENIUS act.

Full interview here. Great episode from @APompliano

@paoloardoino Why not bring USDT unless you were afraid of not being able to show proof or reserves in US treasuries? Makes no sense to make an all new stable coin for the purpose when the only thing that changes is GENIUS act requires proof of reserves via treasuries, bonds, etc.

@paoloardoino Tether will also need to comply with the court's orders when they have to return a ton of Bitcoin to the Celsius victims.

@paoloardoino GENIUS act? Tether about to try yoga with US regulators again. Betting their compliance game is more downward dog, less faceplant. 😂

@paoloardoino #tether has one problem if they transfer any funds from #usdt to their new so called stable coin they’ll have to have an audit of the #usdt to prove the funds are legit and I’m sure the @SECGov will be monitoring this situation & act immediately if Atkins is running a tight ship

@paoloardoino Following GeniustAct legislation is the next step for the U.S SBR legislation?

@paoloardoino Sounds like a stablecoin for the algos

@paoloardoino Doubtful

@paoloardoino This is how they CBDC. So the CB doesn’t issue. They issue the backing note. The tether currency is programmable and the CB and Federal Governent dictate the programming. End result is more control. Need to just use Bitcoin.

@paoloardoino They will issue on the XRPL