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Tether's Compliance Adventure
[Plain Language Guide] Tether has launched USAT to meet the compliance requirements of the U.S. "GENIUS Act", with reserves limited to cash and short-term U.S. Treasury bonds, audited monthly and fully regulated.
However, its main stablecoin USDT is backed by assets such as Bitcoin and gold, operates offshore, and has never been fully audited. The two stablecoins, with completely different strategies, reflect Tether's dual-track layout in the global and US markets.
USAT challenges Circle's USDC. With Tether's vast network and $13.7 billion annual profit, can it shake up the market? This venture is not only a compliance attempt but also reveals the struggle between regulation and innovation in the crypto industry.
For details, please see: