#USStablecoinBill

We have each advised or led executive branch agencies involved in digital asset policy and co-authored articles on the regulation of stablecoins. One of us also testified before Congress in February regarding the pending legislation. While we share concerns about illicit uses of stablecoins and the speculative nature of the broader crypto market, legislation on stablecoins is likely to be enacted this year. The Trump administration emphasized the issue in its digital assets executive order just three days after taking office. Republican leaders in both chambers, alongside Sacks, pledged to pass stablecoin legislation within the first 100 days. Committees in both the House and Senate have already advanced relevant bills. As a result, the key question now is not whether to regulate stablecoins—but how best to do so.