Tether to Come under US Jurisdiction: New Stablecoin Bill Aims for Enhanced Regulation

The latest version of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act introduces a significant change in the cryptocurrency landscape: bringing Tether, the issuer of USDT, under US jurisdiction regardless of its location. This amendment signifies a push towards broader regulatory oversight of foreign stablecoin issuers within the US financial ecosystem. The news, first reported by Whale Insider on X, is generating considerable buzz within the crypto community. 📰