#USStablecoinBill Key U.S. Stablecoin Bills: GENIUS Act (Senate) & STABLE Act (House)**

Both bills aim to create the first federal regulatory framework for dollar-pegged stablecoins, with strong bipartisan support and backing from the Trump administration. Key details:

#### **1. Core Objectives**

- **Regulate Issuers**: Only licensed entities ("permitted payment stablecoin issuers") can issue stablecoins in the U.S. .

- **Reserve Requirements**: Mandate 1:1 backing by high-quality assets (e.g., cash, Treasuries) and monthly audits .

- **Consumer Protections**: Ensure redemption rights, transparency, and bankruptcy prioritization for holders .

#### **2. Key Provisions**

- **Issuer Types**:

- Federally chartered nonbanks (OCC-regulated).

- Bank subsidiaries (Fed/FDIC-regulated).

- State-chartered issuers (if compliant with federal standards) .

- **Foreign Issuers**:

- GENIUS Act allows offshore issuers but requires compliance with U.S. court orders (e.g., freezing assets) .

- Critics argue this creates a "Tether loophole" favoring offshore entities .

- **Algorithmic Stablecoins**:

- Banned under both bills to prevent Terra-LUNA-like collapses .

#### **3. State vs. Federal Oversight**

- **Small Issuers** (<$10B market cap): Can opt for state regulation if "substantially similar" to federal rules .

- **Large Issuers**: Must comply with federal oversight (OCC/Fed) .

#### **4. Enforcement & Penalties**

- Regulators (OCC, Fed, FDIC) can revoke licenses, impose fines, or halt operations for non-compliance .

- Stablecoins are **excluded** from SEC/CFTC jurisdiction, clarifying they are **not securities** .

#### **5. Timeline & Next Steps**

- **Senate**: GENIUS Act advanced 18-6 in committee; floor vote expected soon .

- **House**: STABLE Act introduced in March; differences with GENIUS Act (e.g., foreign issuer rules) being reconciled .

- **Goal**: Trump aims to sign a final bill by August 2025 . .