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Tether GENIUS Act influence

Tether is facing mounting scrutiny over its lobbying influence on U.S. stablecoin legislation and its controversial role as a backstop for U.S. debt.

2 entriesThu, Jul 23 – Sat, Jul 25Institutional Transition

Timeline

  1. Sat, Jul 25Latest

    Tether Lobbying Scrutinized Ahead of GENIUS Act as $39 Trillion Debt Backstop Role Examined

    Bloomberg published an investigation examining Tether's lobbying efforts ahead of the GENIUS Act stablecoin legislation, adding further reporting to previously documented allegations that Tether shaped the bill's drafting through Commerce Secretary Howard Lutnick and Bo Hines. Separately, reporting examined America's approximately $39 trillion debt situation and framed Tether as an unlikely new backstop, raising questions about the stablecoin issuer's systemic role.

  2. Thu, Jul 23

    Tether Influence on US Crypto Law

    A court filing and related reporting allege that Tether benefited from and influenced the drafting of the first US crypto law through Commerce Secretary Howard Lutnick and Bo Hines, raising documented concerns about the integrity of stablecoin regulatory rail legislation.