Tether's $184 Billion USDT Faces July 2028 Deadline on US Exchanges

The largest stablecoin, USDT, faces a July 2028 deadline to maintain its presence on US crypto exchanges under new federal rules. The GENIUS Act, signed into law by President Donald Trump on July 18, 2025, establishes regulations for payment stablecoins and gives digital-asset service providers three years to comply.

The law requires foreign issuers of payment stablecoins to register with the Office of the Comptroller of the Currency and submit to ongoing reporting, supervision, and examination. Tether issues USDT through an overseas corporate structure and has relocated its headquarters to El Salvador in 2025.

Tether's CEO Paolo Ardoino has indicated that the company intends to seek compliance for USDT as a foreign-issued token. This would allow the company to maintain two distinct products: USAT for regulated domestic activity and USDT for international markets.