Tether is actively communicating with the U.S. Congress regarding the stablecoin regulatory bill, which may be completed by April

ChainCatcher news, according to FOX Business reporter Eleanor Terrett, Tether is actively communicating with U.S. lawmakers regarding a regulatory framework for stablecoins. Tether CEO Paolo Ardoino stated that they will actively participate in the legislative process.

Currently, there are three stablecoin bills progressing in Congress: the STABLE Act, the GENIUS Act, and the Waters proposal, which require issuers to maintain a 1:1 reserve, only hold highly liquid assets such as U.S. Treasury securities, and undergo monthly audits.

As the largest stablecoin issuer with a market share of about 60%, Tether currently holds over $114 billion in short-term Treasury securities. The Republican-controlled Congress plans to complete the legislation by April.