Tether’s last stand? GENIUS Act leaves USDT with 3 doors AND a ticking clock

Key Points

1. The GENIUS Act gives Tether 18-36 months to comply with rigorous standards, exit the U.S., or launch a new compliant stablecoin.

2. Tether has faced regulatory issues, including a 2021 settlement with the New York Attorney General over claims its reserves were not fully backed.

3. USDC may benefit from Tether's regulatory challenges, but market dominance won't shift overnight despite Circle's compliance advantage.

4. Tether currently holds 62% of the stablecoin market, more than double Circle's 25% share.

5. The GENIUS Act highlights the U.S. demand for transparency and stricter AML/KYC compliance in the stablecoin market.