#DigitalAssetBill

⚡ The U.S. House of Representatives approves a bill to regulate stablecoins ⚡

* The bill, officially titled “Stablecoin Transparency and Accountability Act for a Better Ledger Economy,” aims to establish a clear regulatory framework for dollar-pegged stablecoins.

* This framework includes reserve requirements and anti-money laundering measures that enhance transparency in this growing financial sector.

* However, the discussions have been marred by political concerns, as Democrats raised questions about the involvement of former President Donald Trump's family in the cryptocurrency market, particularly through the USD1 stablecoin project in collaboration with World Liberty Financial.

* Some Democratic lawmakers pushed for amendments to prevent the president and cabinet members from issuing stablecoins while in office, citing potential conflicts of interest.

* These concerns were heightened after Hill's statement acknowledging that Trump's dealings in cryptocurrency “made crafting legislation on stablecoins more complicated.”

* After passing through the committee, it will be presented to the House of Representatives for consideration, where lawmakers must reach consensus on key issues such as federal oversight versus state-level oversight, and regulating foreign stablecoin issuers like Tether.