Tether's USDT Faces US Market Risk as GENIUS Deadline Nears

The GENIUS Act, which creates the first comprehensive U.S. stablecoin framework, is moving toward enforcement with a transition deadline around July 2028, forcing Tether to restructure USDT's reserves (currently held partly in non-compliant assets like precious metals and bitcoin) or face delisting from U.S. exchanges. Foreign stablecoin issuers like Tether now face stricter reserve, custody and regulatory requirements designed to favour bank-linked, domestically-regulated competitors like Circle.

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