#USStablecoinBill Now crypto will be centralized against its original purpose

#USStablecoinBill The US Stablecoin Bill refers to two important laws aimed at regulating stablecoins in the United States: the STABLE Act and the GENIUS Act.

Key Provisions of the STABLE Act

- Approved by the House Financial Services Committee with a vote of 32-17 in favor

- Aims to establish a framework for digital assets, providing clarity on regulatory oversight and investor protection

- Dominated by concerns about conflicts of interest due to Donald Trump's involvement in the launch of World Liberty Financial's stablecoin

Key Provisions of the GENIUS Act

- Introduced by Senators Tim Scott, Bill Hagerty, Cynthia Lummis, and Kirsten Gillibrand to establish a clear regulatory framework for payment stablecoins

- Defines payment stablecoins as digital assets pegged to a fixed monetary value, used for payments or settlements

- Requires stablecoin issuers to maintain a 1:1 reserve, undergo regular audits, and comply with anti-money laundering (AML) and know your customer (KYC) rules

Comparison of Both Bills

Both bills aim to regulate stablecoins, but the GENIUS Act takes a clearer and more flexible approach. Key differences include ¹ ² ³:

- *Scope*: The GENIUS Act focuses on payment stablecoins, while the STABLE Act has broader implications for digital assets

- *Oversight*: The GENIUS Act proposes a dual regulatory framework with federal and state oversight, depending on the size of the issuer

- *Reserves*: Both laws require strict reserve standards, but the GENIUS Act details high-quality and liquid assets such as cash and government securities

Implications

The enactment of either bill could have significant impacts on the stablecoin market, providing clarity and protection for investors while encouraging innovation. However, the differences between the two bills may require