Bloomberg investigation examines Tether’s lobbying efforts ahead of GENIUS Act

A Bloomberg investigation has detailed Tether's extensive lobbying efforts to influence the development and passage of the U.S. GENIUS Act, the nation's first federal regulatory framework for payment stablecoins. The report alleges that Tether executives and advisers engaged with key figures in the Trump administration, including Commerce Secretary Howard Lutnick and adviser David Sacks, to shape specific provisions regarding foreign issuers. These negotiations reportedly focused on critical areas such as compliance requirements for overseas entities, reserve management rules, and the transition timelines for foreign-issued stablecoins entering the U.S. market. By analyzing court filings, financial disclosures, and interviews with officials, the investigation highlights how Tether sought to secure favorable regulatory conditions for its USDT stablecoin. The final version of the GENIUS Act reflects several adjustments made during these intense legislative debates, impacting how international issuers must operate within the U.S. financial system. This development is significant for the RWA market as it underscores the growing intersection between major stablecoin issuers and federal policy-making. The outcome of these lobbying efforts directly affects the competitive landscape for dollar-pegged assets and the broader integration of tokenized liquidity into the U.S. economy.