A bill to regulate Stablecoin in the United States has been adopted by the US House Financial Services Committee.
On 2 April, the Commission approved the transparency and accountability of Stablecoin for a better law on the Ledger Economy in a 32-17 votes. It is now going to a full house mood.
The bill, supported by Republican legislators, aims to bring clarity and structure to the Stablecoin market with stablecoins, such as USDT and USDC.
Introduced by chairman of the Financial Services Committee French Hill and Digital Assets, Financial Technology and Artificial Intelligence Subcommissie Chairman Bryan Steil, the stable law lays a special regulation framework for payment stabeles, which establishes clear rules for how to work and support their tokens.
It focuses on stimulating consumer protection, guaranteeing transparency of issuers and strengthening the role of the US dollar in digital financing.
The publisher should reveal how their tokens are supported and ensure that sufficient dollar equivalent assets are held to support the circulating offer.
Other important provisions include obliging strong consumer protection measures to reduce the risk and to improve trust in the use of the Stablecoin for daily payments. The bill will also modernize the American payment infrastructure and support faster, more cost -effective transactions while maintaining space for innovation.
Proponents say that the legislation will help the US to retain its lead in the development of digital assets. According to Congressman Dan Meuser, the bill would strengthen the position of the dollar as the reserve currency of the world by keeping Stablecoins within a “safe, dollar-supported system”.
“It will make payments faster, cheaper and more accessible, reducing the costs for both companies and consumers. President Donald Trump promised to make America the crypto capital of the world, and the stable law is the first step in fulfilling that promise,” he said in a April 2 X.
Meanwhile Downing, Congressman Troy Downing added The legislation would make “innovation possible to continue to thrive in the US while retaining important consumer protection.”
Now that Stablecoins are gaining ground, the current government has urged clear regulations, something that Trump’s crypto tsar David Sacks says that it is vital to strengthen the worldwide leadership of the dollar.
The congress also looks at another Stablecoin Bill, the Genius Act, introduced by Senator Bill Hagerty. It is intended to set up a federal framework for regulating stablecoin mittenters across the board.
The bill contains clear rules on reserves, audits, transparency and licenses. It recently released the Senate Bank Committee with a vote of 18-6.
