#USStablecoinBill

The #USStablecoinBill refers to proposed legislation in the United States aimed at regulating stablecoins. Two prominent bills are currently under consideration ¹ ²:

- *The STABLE Act*: This bill, introduced by Representatives French Hill and Bryan Steil, aims to establish a federal licensing and supervisory framework for payment stablecoins and their issuers. It passed the House Financial Services Committee with a 32-17 vote.

- *The GENIUS Act*: Introduced by Senator Bill Hagerty, this bill also seeks to regulate stablecoins by establishing federal standards for issuers, including requirements for fully backed reserves and segregation of funds. It has bipartisan support, with co-sponsors including Senator Tim Scott and Senators Kirsten Gillibrand and Cynthia Lummis.

Key provisions of the bills include ²:

- *Licensing and Supervision*: Requiring stablecoin issuers to obtain licenses and be supervised by federal or state authorities.

- *Reserve Requirements*: Mandating stablecoin issuers to maintain fully backed reserves, segregated from operational funds.

- *Customer Protection*: Implementing standards for custody services, including segregation of customer assets and enhanced cybersecurity measures.

- *Federal and State Regulation*: Establishing a framework for federal and state regulation of stablecoin issuers, with larger issuers subject to federal oversight.

The bills have sparked debate, with some lawmakers expressing concerns about conflicts of interest and the potential for federal officials to benefit from stablecoin issuance. Despite these challenges, both bills have garnered bipartisan support and are expected to move forward in the legislative process ¹.