Tether Plans to Launch New Stablecoin in the US, with its CEO Actively Lobbying Washington's Cryptocurrency Community

BlockBeats News, May 2nd - Paolo Ardoino, CEO of stablecoin issuer Tether, revealed in an interview with CNBC this week that the company is planning to launch a new US dollar-pegged stablecoin in the US as early as this year. This move comes as Tether, once known as the preferred cryptocurrency of criminals, is repositioning itself as a partner to US legislators and law enforcement.

“The domestic stablecoin will be different from the international stablecoin,” Ardoino told CNBC's Dan Murphy at the Token2049 conference in Dubai on Wednesday. “This depends on the timeline of the final legislation... but we hope to achieve this goal by the end of this year or early next year,” he said.

According to The New York Times, Ardoino's recent charm offensive in Washington, including private meetings with lawmakers, a Capitol Hill lunch with Senator Bill Hagerty, and parties with cryptocurrency insiders, has garnered attention for Tether amid the pro-crypto shift under former President Trump. This influence is now potentially helping shape key legislation, including the Republican-backed “GENIUS Act.” Critics argue that the bill contains loopholes favorable to Tether and other foreign issuers, such as allowing them to operate in the US as long as they agree to cooperate with law enforcement.