'Circle Check' Tether, Hires US Virtual Asset Policy Architect [CryptoBriefing]

[Financial News] As Tether, the world's leading stablecoin issuer, faces the risk of being pushed out of the US market, it has pulled out a 'counterattack card'. It has hired Bo Hines (photo), a key policy architect from the US White House Digital Asset Advisory Committee, as a strategic advisor. With the potential for Tether and other foreign-issued stablecoins to be expelled from the US market once the US Stablecoin Act (Genius Act) is enacted, it is analyzed that Tether is taking a full-scale response through Hines, who oversaw the virtual asset policy roadmap of the Trump administration.
According to foreign media and industry sources on the 25th, Hines, who joined Tether, the issuer of the world's largest dollar stablecoin 'USDT', as a strategic advisor, plans to concretize Tether's integration into the US regulatory framework and market expansion. This is because the Genius Act stipulates that stablecoins issued by foreign payment stablecoin issuers (FPSI) like Tether cannot be sold or traded in the US. If FPSI does not meet exception conditions such as registration with the US Office of the Comptroller of the Currency (OCC), transactions within the US are completely prohibited.
In the industry, it was predominantly expected that once the Genius Act is enacted, Circle (USDC), based in New York, USA, would push out Tether (USDT), an El Salvador-based issuer, and take market leadership.
However, with Tether's hiring of Hines as a strategic advisor, evaluations have emerged that a 'turning point opportunity' has been created. During his tenure at the White House, Hines referred to Bitcoin as 'digital gold' and proposed a plan for the US government to purchase Bitcoin using tariff revenue, thereby concretizing pro-virtual asset policies.
In this regard, Tether stated that Hines, as a strategic advisor, will concretize Tether's entry into the US market while building constructive relationships with policymakers and industry stakeholders. Tether has already reinvested $5 billion (approximately 7 trillion won) into the US ecosystem through Tether Investments.
Tether CEO Paolo Ardoino said, "Hines, as a strategic advisor, developed clear guidelines for stablecoin issuers at the White House," adding, "Given his role in establishing cooperative relationships between the government and the blockchain industry, he will play a valuable role in Tether's entry into the world's largest market."
As the global stablecoin market is rapidly growing, with Tether presenting a strong card of 'hiring Hines from the White House', the competition between Tether and Circle over the US stablecoin market is expected to intensify. Currently, the market capitalization of USDT and USDC is $167 billion (231 trillion won) and $67.5 billion (93 trillion won), respectively, with the potential for the stablecoin market to grow into trillions of dollars. US Treasury Secretary Scott Besant also stated, "The market capitalization of dollar-based stablecoins will grow to $2 trillion (2,770 trillion won) in the future."
Meanwhile, Hines will participate as a key speaker at the main event 'Impact (KBW 2025:IMPACT)' of the 'Korea Blockchain Week 2025 (KBW 2025)', held under the theme 'Meeting of Washington and Seoul, Convergence of Virtual Assets and AI' throughout Seoul from the 22nd to the 28th of next month.

elikim@fnnews.com Mihee Kim Reporter