Bo Hines Declares GENIUS Stablecoin Initiative As “Initial Component Of The Puzzle”

Bo Hines, the former executive director of the White House Crypto Council, has made the shift from public service to the private sector to lead Tether in its launch of the new stablecoin USAT, developed under the recently established GENIUS Act regulatory framework. The GENIUS Act, which has just been enacted, seeks to regulate stablecoins, requiring their issuers to hold reserves in secure and liquid assets like treasury bills, adhere to anti-money laundering and terrorism financing laws, and prioritize coin holders during bankruptcy situations.

Hines spoke at TOKEN2049 Singapore, referencing the GENIUS Act as the “initial piece of the puzzle” in the overall modernization of the U.S. payments system, with legislation aimed at establishing solid operational standards and enhancing transparency. “The President (Donald Trump) has assembled a team capable of moving swiftly in tech to implement this,” Hines noted. “We recognize the importance of acting quickly, and I believe we have done just that.”

“Clearly, I am no longer in my government position, but I would love to see the government establish a benchmark for what tech integration could entail,” he remarked.

Bo Hines is addressing the audience at TOKEN2049.

Essential points:

– Banks are sluggish in their approach.
– 500 million users engage with Tether, indicating it’s no longer a niche player.
– Stablecoins provide access to U.S. capital markets for individuals who otherwise could not participate.
– both Lutnick and Bessent are influential figures… pic.twitter.com/xBvLrvNJcW

— Jack | Blockchain Philosopher (@jacksage_) October 2, 2025

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“We must commence with modernizing the existing payment systems, many of which are outdated,” stated Hines

“To achieve a wholly revamped and revolutionary economic landscape, we had to begin by modernizing the existing payment systems, numerous ones being antiquated,” stated Hines. “At that juncture, the U.S. will emerge as a powerhouse in this domain. They will reaffirm their position and reclaim the title of crypto capital, as both David and the President outlined at the outset.”

Hines attributes the proactive approach of the U.S. administration under Trump to its readiness to progress “at technology’s pace” while cooperating with industry and government partners.

Stablecoins. A prominent topic of discussion. As Bo Hines shares his insights, let’s remind audiences of the “why”

With tokens tied to fiat currencies facilitating the trading and settlement of digital assets, stocks, bonds, and commodities on decentralized exchanges, stablecoins… pic.twitter.com/R4sFXv9zwQ

— Andrew De’Vilbiss (@DrewDeVilbiss) April 14, 2025

Launch of Tether USAT Stablecoin in September

Last month, Tether introduced a new stablecoin named USAT.

USAT effectively possesses the first mover advantage, and its supporters are confident it will safeguard American crypto competitiveness,

It is specifically crafted for the U.S. crypto market and carries a strong commitment to adhere to regulations. This isn’t merely another crypto token being added to the fray. It represents the first significant initiative from Tether’s new leadership, with a straightforward aim: create something that regulators will genuinely appreciate.

Hines asserts this effort isn’t solely about placating regulators. It’s about providing American enterprises with something truly reliable. He believes USAT serves as Tether’s demonstration that it can operate within the rules and still remain competitive in the digital asset arena.

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The article Bo Hines Says GENIUS Stablecoin Project Is “First Piece Of The Puzzle” first appeared on 99Bitcoins.