Paolo Ardoino, Tether's chief, said his firm will come to the U.S., is chasing high-level auditing and will adjust reserves, but Jeremy Allaire said Circle is already compliant.

Tether and Circle CEOs laid out their plans for the future after President Trump signed sweeping stablecoin legislation into law.

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

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.

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.