According to Bloomberg, Tether CEO Paolo Ardoino said that despite the advancement of stablecoin legislation in the United States, Tether remains focused on overseas markets and is concerned about the impact of the Genius Act on foreign issuers. He revealed that the company is considering issuing stablecoins that comply with the new regulations to attract institutional investors, and is negotiating with the big four accounting firms for a formal audit, which is still under the responsibility of BDO Italy. Regarding the joint issuance of stablecoins by large banks, Ardoino said that the Tether customer base is 3 billion people in the world who are not connected to the banking system and are not worried about competition.