Times are changing:

> The GENIUS Act requires permitted payment stablecoin issuers to maintain reserves backing outstanding payment stablecoins on at least a one-to-one basis, and provides that reserves may only consist of certain specified assets, including US dollars, federal reserve notes, funds held at certain insured or regulated depository institutions, certain short-term Treasuries and Treasury-backed reverse repurchase agreements, and money market funds.

> In addition, the GENIUS Act requires stablecoin issuers to provide monthly public reporting as to the composition of their reserve portfolios on their website, and requires larger issuers (with more than $50 billion in consolidated total outstanding issuance) to publish annual audited financial statements. These monthly reports must be examined by a registered public accounting firm, and the CEO and CFO of a permitted payment stablecoin issuer must certify the accuracy of these reports to the primary federal payment stablecoin regulator or state payment stablecoin regulator, as applicable.

https://www.lw.com/en/insights/the-genius-act-of-2025-stable...

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btouellette a day ago | parent [-]

With regard to Tether none of this is applicable as they aren't compliant with the GENIUS Act. They are in fact attempting to launch a totally separate stablecoin to try to get some of that market: https://www.reuters.com/sustainability/boards-policy-regulat...

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ecommerceguy 21 hours ago | parent [-]

Right, and who is looking at it anyways? Let's not kid ourselves, noone at the SEC will be enforcing "genius" act. Does anyone realistically think otherwise?

	▲	DennisP 20 hours ago \| parent [-]
		If it really is the goal to increase treasuries demand by means of stablecoins, then I would expect them to enforce this. If the stablecoins aren't really buying the assets then they do nothing for demand. If another goal is to enrich the Trump family, then the SEC could forgo enforcement on the World Liberty Financial stablecoin. But they could still enforce the act for everyone else. Increasing demand for treasuries, thus keeping interest rates down, also directly benefits Trump because he's bought at least $100 million in bonds since becoming president. https://www.yahoo.com/news/articles/trump-buys-more-100-mill...