[USAT Independently Issued by Anchorage; GENIUS Act Approval Not Yet Initiated] Odaily Planet Daily reports that USAT is independently issued by Anchorage Digital Bank, N.A., with Tether providing technology and supporting branding, strategy, and distribution. Anchorage discloses that Tether is not the issuer of USAT and has no obligation to redeem or guarantee the token; USAT and USDT are different products with different issuers and legal arrangements. Anchorage's terms only allow approved clients to directly mint or redeem USAT; other holders typically need to trade through exchanges or secondary markets. Its reserve report as of August 31, 2026, shows approximately 175.7 million redeemable USAT in circulation, corresponding to approximately $176.4 million in reserve assets. The GENIUS Act came into effect on July 18, 2025, with its main issuance framework to be implemented on January 18, 2027. The Office of the Comptroller of the Currency (OCC) released its main implementing rules on October 21, 2026; as of October 27, the OCC had not yet initiated the application process, and publicly available materials did not indicate that USAT had obtained a license to issue securities under this act. (Bitcoin.com News)