Tether CEO Paulo Ardoino and Circle CEO Jeremy Allaire expressed their readiness to comply with the newly signed GENIUS Act, which connects stablecoins to the U.S. financial system. Ardoino outlined Tether's plans to adjust its operations to meet new auditing standards and develop a U.S.-centric stablecoin aimed at institutional users, while Allaire emphasized Circle's commitment to transparency and trust in response to the evolving regulatory landscape.

Tether's launch of the USAT stablecoin aims to establish a compliant presence in the U.S. market, posing a direct threat to Circle's USDC. The move emphasizes a shift towards regulatory compliance in stablecoins, raising concerns over privacy versus oversight in the crypto space.

Tether's CEO Paolo Ardoino announced that the company is progressing towards entering the U.S. institutional stablecoin market, following the recent signing of the GENIUS Act to regulate stablecoins. Ardoino indicated that an announcement regarding their strategy for U.S. markets is expected in the coming months, while also addressing the competitive landscape with traditional banks.