Tether is engaging in discussions with lawmakers in the US Congress to assist in the development of stablecoin regulatory policies at the federal level.
According to Fox Business reporter Eleanor Terrett, Tether is collaborating with Representatives Bryan Steil and French Hill on the STABLE Act, which they introduced on Feb. 6.
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Tether CEO Paolo Ardoino has said the company also intends to contribute to two other stablecoins bills proposed by different lawmakers.
According to Terrett, compliance with US regulations would mean that Tether must conduct monthly reserve audits through a US-based accounting firm and maintain one-to-one asset collateral for its tokenized fiat equivalents.