Tether Wants in on Stablecoin Regulation Talks with US Lawmakers

With the recent stablecoin regulation initiatives being discussed within various US legislators, Tether, considered to be one of the largest stablecoin issuers, has been in talks with Representative Ryan Steil and Republican Chair of the House Financial Services Committee French Hill with possible proponents pertaining to stablecoin regulations.

The cryptocurrency firm has been actively engaging with the US lawmakers as they are drafting the various tenets of their upcoming STABLE Act which was introduced back in February 6, 2025. The bill is set to require stablecoin issuers to gain permission from the Office of the Comptroller of the Currency and back their crypto to traditional fiat currency, short-term U.S. Treasury bills, or central bank reserves.

Tether CEO Paolo Ardoino reportedly confirmed that the company is also seeking to contribute to two additional stablecoin bills proposed by other legislators,

“We are not going to just throw in the towel and let Tether die just for the sake of not adapting to U.S. legislation. But there is still a lot of uncertainty over what’s actually going to happen, and we want our voice to be heard in the legislative process,” Ardoino added.

What Does It Mean for Crypto Casinos if the STABLE Act is Passed?

In the event that the STABLE Act is enacted into law, Tether and other stablecoin issuers will need to commit to maintaining one-to-one asset backing for its tokenized fiat and conduct monthly reserve audits through a U.S.-based accounting firm. That said, Tether is still willing to play ball with the legislators, with Ardoino stating that his team aims to get involved in shaping all regulatory frameworks for stablecoins in the U.S. to ensure that they have a say in the legislative process,

“We are going to work within the regulatory framework, and we are going to try to advise on every single one of these field proposals to make sure that our voice is heard,” said Ardoino.

Players who have been using cryptocurrencies on their favored crypto casinos will be keen to monitor the developments of the STABLE Act, since any proponents could affect the value of their digital assets. 

More Stablecoin Bills On the Way

The recent week also saw three stablecoin bills being introduced in the House and the Senate. Following the STABLE Act, the GENIUS Act, a bipartisan bill introduced by the Senate team that includes an author of the Bitcoin reserve proposal, Sen. Cynthia Lummis. The bill regulates stablecoins with a market cap over $10 billion.

Meanwhile, Democratic Rep. Maxine Waters on the House Financial Services Committee, introduced a proposal for stabelcoin oversight which includes the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve.