USDT Gains Federal Backing as Senate Passes GENIUS Act

In a historic move, the U.S. Senate has passed the GENIUS Act, providing federal oversight for stablecoins like USDT and USDC. This legislation, approved with strong bipartisan support (68-30), marks a significant milestone in cryptocurrency regulation. The bill not only establishes a regulatory framework for dollar-pegged stablecoins but also paves the way for private companies to issue digital currencies. This development reflects the growing institutional acceptance of cryptocurrencies, with major firms such as JPMorgan Chase and Shopify showing increased interest. The GENIUS Act is expected to bring stability and legitimacy to the crypto market, potentially driving up the value and adoption of stablecoins like USDT. As of June 2025, this legislative breakthrough is seen as a bullish signal for the future of digital assets in the financial sector.

U.S. Senate Passes Landmark Stablecoin Legislation in Boost to Crypto Industry

The U.S. Senate has approved the 'GENIUS Act,' marking a watershed moment for cryptocurrency regulation. The bill establishes federal oversight for dollar-pegged stablecoins like USDT and USDC while creating a framework for private companies to issue digital currencies. Passed with bipartisan support (68-30), the legislation reflects growing institutional acceptance as major firms including JPMorgan Chase and Shopify adopt stablecoin technology.

Circle (CRCL), a leading stablecoin issuer, recently completed a successful IPO amid this regulatory clarity. The crypto industry invested heavily in the 2024 election cycle, with $250 million directed toward electing pro-digital asset lawmakers. While the bill still requires House approval, its Senate passage signals shifting attitudes on Capitol Hill.

Tether Assists DOJ in $225M Crypto Scam Takedown Linked to Confidence Fraud

U.S. authorities have seized $225.3 million in cryptocurrency tied to a global fraud scheme targeting over 400 victims. The Department of Justice (DOJ) filed a civil forfeiture complaint, marking one of the largest enforcement actions in the crypto sector. Blockchain analysis traced hundreds of wallets used to launder proceeds across platforms.

Tether played a pivotal role, freezing $225 million in USDT and aiding law enforcement in tracking funds. This represents the Secret Service's largest crypto seizure to date. Scammers employed social engineering tactics, luring victims into fake crypto investments with devastating financial consequences.

The DOJ and FBI have committed to recovering stolen funds and preventing future scams. Victims are urged to report fraud through the FBI's IC3 portal. The case highlights growing collaboration between stablecoin issuers and regulators in combating crypto-related crime.

Tether Recognized by DoJ for Facilitating Seizure of $225M Linked to Fraud Operations

Tether, the leading issuer of stablecoins across multiple blockchains, has been commended by the U.S. Department of Justice for its role in freezing $225 million tied to a large-scale fraud scheme. The funds, stolen from over 400 victims, were seized in collaboration with the DoJ and mark the largest cryptocurrency seizure in U.S. Secret Service history.

The civil forfeiture complaint, filed in the U.S. District Court for the District of Columbia, highlights Tether's growing compliance efforts amid heightened regulatory scrutiny. As the dominant issuer of dollar-pegged stablecoins, Tether remains a significant holder of U.S. Treasury securities, even as it relocates its headquarters to El Salvador.

The impending GENIUS Act, which recently gained bipartisan support in the U.S. Senate, is set to impose stricter regulations on stablecoin issuers. Tether's proactive cooperation with law enforcement signals its intent to align with evolving legislative frameworks while maintaining its market position.