#USStablecoinBill
The US Stablecoin Bill aims to establish a regulatory framework for stablecoins, a type of digital asset pegged to the value of a traditional currency like the US dollar. Two bills are currently under consideration: the House STABLE Act and the Senate GENIUS Act. Both propose licensing regimes, reserve requirements, and disclosure rules for stablecoin issuers. The goal is to foster innovation while protecting consumers and maintaining the dominance of the US dollar. Key provisions include ¹ ²:
- *Reserve Requirements*: 100% reserve backing for stablecoins
- *Licensing*: Federal licensing regimes for digital asset issuers
- *Disclosure*: Monthly summaries of assets backing stablecoins
- *Anti-Money Laundering*: Compliance with AML and CFT rules
The bills aim to provide clarity and stability for the crypto industry, but some Democrats have expressed concerns, citing issues with AML safeguards and consumer protection ³.$BTC $