#USStablecoinBill
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🚨 Big News: U.S. Stablecoin Bill Gains Ground in Congress!
#USStablecoinBill #CryptoRegulation
The GENIUS Act, a major bipartisan bill focused on stablecoins, just cleared a big hurdle—it passed the Senate Banking Committee with an 18-6 vote and is now headed for a full Senate vote. Over in the House, lawmakers are moving forward with their version, the STABLE Act, and there's growing confidence that a final bill could be passed by August.
Here’s what’s in the bill:
Two regulatory paths: Stablecoin issuers can choose to be regulated at the federal or state level. Larger issuers (with over $10B in market cap) will face tighter rules.
Full reserve backing: All stablecoins must be 100% backed by cash, U.S. Treasuries, or other top-tier assets.
Not securities: The bill clearly states stablecoins are not securities, keeping them out of SEC jurisdiction.
Foreign issuers: Offshore issuers like Tether still have wiggle room, but new enforcement tools could close those gaps.
The Trump administration is backing the bill hard, aiming to lock in the U.S.'s lead in digital finance and strengthen the dollar’s global role.
Next up: The Senate and House need to hammer out a final version—and if all goes well, this could be the first big crypto law of 2025!
(Sources: Covington, Mayer Brown, CoinDesk, Atlantic Council)
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