Tether, the leading global stablecoin issuer, faces pressure to comply with strict U.S. reserve and audit standards or risk losing domestic market share

Quotes that support claims

This requirement pushed Tether to buy more Treasuries than most states, potentially giving stablecoins new influence in world finance.

Tether may end up with a choice to make: Jump through some serious hoops to reach compliance with the future law, or stand back and try to hold onto non-U.S. market share as the U.S. industry potentially increases in scale and the federal government takes its customary role in steering the regulatory demands of other jurisdictions around the world, according to the predictions of experts.