PANews reported on May 25 that according to Bloomberg, although the U.S. Congress is considering a bill that will help further integrate stablecoins into mainstream finance, Tether CEO Paolo Ardoino said that he will still focus on overseas markets and pay attention to the impact of the Genius Act on foreign issuers.

The more favorable regulatory environment in the United States has also prompted Tether to advance the process of having its reserves audited by one of the Big Four accounting firms. Ardoino also said that Tether is still in talks with the firm. Currently, Tether publishes certification documents signed by BDO Italia SpA every quarter. Regarding the plan of large banks to jointly issue stablecoins, Ardoino said that Tether's customer base is 3 billion people in the world who are not connected to the banking system, and he is not worried about competition.