The GENIUS Act is now law, after President Donald Trump signed the bill, to the cheers of cryptocurrency enthusiasts. The GENIUS Act regulates one type of cryptocurrency called stablecoins, a $200 billion part of the multitrillion-dollar cryptocurrency system.

Cryptocurrency has gained a hold in Americans’ investment portfolios and their retirement accounts — and now it’s a step closer to their wallets for everyday use.

Tether faces tough choices under the GENIUS Act, which mandates transparency for stablecoin issuers in the US, or risk being banned.

However, Tether has never completed a full, independent audit. This remains a major red flag. The GENIUS Act now brings that issue back into the spotlight. The question now isn’t whether the U.S. wants transparency – it’s whether Tether can survive it. The GENIUS Act leaves Tether with three options.

GENIUS Act targets Tether's opaque reserves, pushing the $156 billion giant to comply or exit the U.S. market.

A bill laying out rules for stablecoins would force issuers like Tether to be audited and end risky practices.

The GENIUS Act prompted Ripple and Circle to apply for U.S. bank charters as Congress cleared new stablecoin regulations.

Tether hits $160B market cap milestone as US GENIUS act threatens stablecoin dominance through mandatory third-party audits.