According to online reports, according to Bloomberg, Tether CEO Paolo Ardoino said that although the United States promotes stablecoin legislation, Tether will still focus on overseas markets and pay attention to 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 four major accounting firms for formal audits, which is still under the responsibility of BDO Italy. Regarding the plan to jointly issue stablecoins by large banks, Ardoino said that Tether's customer base is 3 billion people around the world who are not connected to the banking system and is not worried about competition.