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139 sats \ 2 replies \ @Scoresby 29 Sep \ on: Tethered to Terrorism: Crypto & Iran’s Shadow Banking Network news Politics_And_Law
It also does not factor in the GENIUS Act and what it is requiring stablecoin issuers like Tether to do.

Maybe I'm ignorant, but USDT isn't GENIUS compliant as far as I know. Is it possible that Tether can issue USAT (their GENIUS compliant coin) but still continues to issue USDT outside the US? ie, does GENIUS apply to the issuer or to the coin?

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242 sats \ 1 reply \ @Cje95 OP 29 Sep

You are right that USDT isn't GENIUS-compliant (I am not sure which part isn't), but yes, it isn't. GENIUS applies to the issuer, so with the whole USDT part, I am not sure if they are going to either make it compliant or retire it for USDT, since it is likely the government isn't going to allow them to issue a new one or purchase treasuries firsthand if USDT is an issue.

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3 sats \ 0 replies \ @Scoresby 29 Sep

Seems like Tether does not issue a compliant coin afterall. USAT is issued by Anchorage Digital Bank

Tether owns/licenses the USAT branding and collaborates on the product, but Anchorage's disclosures expressly say Tether has no obligation to issue, redeem, or guarantee USAT. USDT, by contrast, is issued by Tether International, S.A. de C.V., an El Salvador company.
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