Bo Hines Says GENIUS Stablecoin Project Is “First Piece Of The Puzzle”

Bo Hines, formal executive director of the White House Crypto Council, transitioned from public service to the private sector to take the helm at Tether for its new stablecoin USAT under the fresh GENIUS Act regulatory framework. GENIUS Act, passed recently, aims to regulate stablecoins, mandate stablecoin issuers to maintain reserves in safe and liquid assets such as treasury bills, comply with anti-money laundering and terrorism finance regulations, and prioritise coin holders in bankruptcy proceedings.

Hines took the stage during TOKEN2049 Singapore described the GENIUS Act as the “first piece of the puzzle” toward complete modernization of the US payments system, with the legislation focusing on creating robust operational standards, increasing transparency. “The President (Donald Trump) has built a team that can actually move at tech speed in order to do this,” said Hines. “We understand the need to move expeditiously, and I think that we acted on that.”

“Obviously, I am out of my government role now, I’d love to see the government set a standard in terms of what tech integration could look like,” he added.

Bo Hines is speaking at TOKEN2049.

Key takeaways:

– Banks are slow movers.
– 500 million users use Tether, so it’s not a niche anymore
– Stablecoins give access to U.S. capital markets to people who could not participate otherwise.
– both Lutnick and Bessent are people who can… pic.twitter.com/xBvLrvNJcW

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

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“We have to start by updating the payment rails that existed, many of which were archaic,” said Hines

“In order to have a completely renovated and revolutionized economic state, we had to start by updating the payment rails that existed, many of which were archaic,” said Hines. “I think at the point, the US will be the powerhouse in this space. Again, they will re-establish themselves and become the crypto capital, just as David and the President had outlined at the beginning of the process.”

Hines credits the US administration under Trump for its willingness to move “at the speed of technology” and collaborate among industry and governmental stakeholders.

Stablecoins. The big topic on the block. As Bo Hines delivers his remarks, let me remind viewers of the “why”

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

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

Tether USAT Stablecoin Launched In September

Last month, Tether launched a new stablecoin called USAT.

USAT clearly has the first mover advantage and its backers believe it will future-proof American crypto competitiveness,

It is designed specifically for the US market and comes with a big promise to play by the rules. This isn’t just another token being added to the mix. It’s the first major step from Tether’s new leadership, and the goal is simple: build something the regulators will actually be happy with.

Hines says this isn’t just about keeping regulators off their backs. It’s about giving American businesses something they can actually rely on. According to Hines, USAT is Tether’s way of proving that it can do things by the book and still compete in the digital asset space.

Explore: 9+ Best High-Risk, High-Reward Crypto to Buy Right Now

Key Takeaways

With the passage of the GENIUS Act and the launch of the federally-compliant USAT stablecoin, the US is reclaiming the regulatory and industrial initiative in crypto.

The GENIUS Act and USAT are expected to serve as templates internationally, influencing regulatory approaches abroad and reinforcing the US as a digital finance leader.

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