#USStablecoinBill

USStablecoinBill The US Stablecoin Bill, particularly the bipartisan GENIUS Act, aims to establish a federal regulatory framework for payment stablecoins. It mandates 100% reserve backing in US dollars or short-term treasuries, monthly reserve disclosures, and annual audits for larger issuers.

However, the bill faces headwinds. Nine Senate Democrats recently voiced concerns over insufficient provisions regarding anti-money laundering, foreign issuers, national security, and financial system safeguards. They also seek stronger accountability measures. This opposition has cast doubt on the bill's near-term prospects despite earlier bipartisan support and the Trump administration's interest in enacting stablecoin legislation by August. The House also passed its version, the STABLE Act, and reconciling the two versions would be necessary.