Tether (CRYPTO: USDT) has launched USA₮, a federally regulated stablecoin issued by Anchorage Digital Bank, but Standard Chartered warns stablecoins could drain $100 billion from U.S. bank deposits with the market reaching $301.4 billion.

USA₮: Built For The GENIUS Act

Tether launched USA₮ on Monday to comply with the GENIUS Act, the first nationwide framework governing stablecoins sold to U.S. users.

The law requires stablecoins offered to Americans to be issued by federally or state-qualified entities. That locked out USDT, Tether’s flagship token, forcing the company to create a separate U.S.-compliant version.

Bo Hines, former White House Crypto Council Executive Director, leads…

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