#USStablecoinBill

Hey noobsters I've got some positive news to share. As of this month (May 2025) the Genius Act - an effort to create a federal regulatory framework on stablecoins payments; 🤫Read mainstream adoption 😉.

🪙Stable coins like USDC and USDT which are pegged on a 1:1 ratio with USD already meet some key criteria. Ofcourse there are many more technicalities to comb🪮through But!!! the bill has passed The Senate Banking Committee🏦although the 'profanities' of money laundering and stability are always challenges.😶‍🌫️

The regulation of which would fall under the Stable Act of coins issued by banks and financial companies. It has the same mandated 1:1 dollar peg ration & Limits systemic risks by keeping issuance to insured depository institutions.

There are some contentions such as debates on whether the Federal Reserve and like authorities should have primary oversight. There is also the push to disallow 'Big Tech' companies from dominating the market.

This News reads as something generally positive for the cryptoverse though the perennial issues such as regulation and limitations are sure to rattle the rafters of the crypto status-quo...