Senator Bill Hagerty of the United States has introduced an updated version of the guidance and setting up national innovation for the US Stablecoins Act prior to an important vote from the Senate Bank Committee on 13 March.
According to March 10th announcementThe revised bill reinforces the legal standards for Stablecoin -emendent, refinement rules for consumer protection, reserve requirements and supervision.
One of the greatest shifts is the more difficult attitude towards non-US stablecoin emission, who imposes which Web3 App founder Dom Kwok, in a March 11 x X afterdescribed as “extra high standards” for reserves, liquidity and compliance checks. This step is expected to give us -based issents such as Circle and Ripple a ‘competitive advantage’.
Although the core framework of the account remains intact-emissioners who place more than $ 10 billion in market capitalization under the supervision of the Federal Reserve and smaller issents to remain regulated by the State, the now stronger enforcement mechanisms and risk management to ensure compliance and financial stability.
“Stablecoins make faster, cheaper and competitive transactions possible and facilitate seamless cross -border payments. This legislation will ensure that industry can innovate and grow here in the United States and at the same time promotes the global position of the US dollar. “
Tim Scott, chairman of the Senate Bank Committee.
Bipartisan input played a key role in shaping the revised bill, in which legislators work with stakeholders in industry, academics and supervisors to refine its provisions, the announcement added.
The Senate banking committee will vote on the bill on 13 March. If it releases the committee, it will go to a complete senate voice where legislators will debate about its provisions before they are sent to the house.
If both rooms approve the legislation, it will land on President Donald Trump’s office for definitive approval or a veto.
As previously reported by Crypto.news, Hagerty introduced the Genius Act in February 2025. An important provision in legislation mandes that American treasury drawings, US Dollars or Federal Reserve remarks should fully support all Stabilecoins.
In the meantime, the Stablecoin market has been expanded from a niche sector to a multi-billion dollar industry in recent years. According to a report from UURNETWORK, it is now more than 1% of the M2 money amount of the US dollar.
