Smith’s timeline echoes a similar forecast by Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, who said on March 18 that he expects to see comprehensive stablecoin legislation in the coming months. “I think we’re close to being able to get those done for August […] they’re doing a lot of work on that behind the scenes right now,” Smith said on March 19 at the Summit, which Cointelegraph attended. US President Donald Trump sits beside Treasury Secretary Scott Bessent at the March 7 White House Crypto Summit.
The stablecoin issuer acquired over $33.1 billion worth of Treasurys, compared to over $100 billion purchased by the Cayman Islands in the first place in global rankings, according to Paolo Ardoino, CEO of Tether. “Tether was the 7th largest buyer of US Treasurys in 2024, compared to Countries,” wrote Ardoino in a March 20 X post.
Related: Paolo Ardoino: Competitors and politicians intend to ‘kill Tether’Stablecoin bill may pass as soon as August: Blockchain AssociationUS lawmakers are on track to pass legislation setting rules for stablecoins and cryptocurrency market structure by August, Kristin Smith, CEO of industry advocacy group the Blockchain Association, said during Blockworks’ 2025 Digital Asset Summit in New York.
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Author / Journalist: Cointelegraph by Zoltan Vardai
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