Tether has introduced USAT, a stablecoin compliant with U.S. regulations, issued through Anchorage Bank. This move aims to strengthen Tether's position in the American market, where it has historically lagged behind competitors like Circle. The launch follows a year of growth for stablecoins, bolstered by supportive legislation from the Trump administration.

A power struggle is emerging among traditional banks, tech giants, and crypto firms like Tether and Circle as they seek to shape U.S. stablecoin regulations. Bank of America is lobbying for rules favoring established banks, while the ongoing rivalry between Tether and Circle highlights differing approaches to reserve management and compliance amidst growing concerns over financial stability.