#USStablecoinBill The **#USStablecoinBill** refers to the bipartisan **Lummis-Gillibrand Payment Stablecoin Act**, introduced in April 2024 by Senators Cynthia Lummis and Kirsten Gillibrand. The bill aims to establish a comprehensive regulatory framework for stablecoins in the United States. Key provisions include:

* **Reserve Requirements**: Issuers must maintain one-to-one reserves, ensuring stablecoins are fully backed by cash or cash-equivalents. ([Senator Cynthia Lummis][1])

* **Issuance Restrictions**: Only U.S.-approved issuers can issue dollar-backed stablecoins, prohibiting algorithmic stablecoins. ([Senator Cynthia Lummis][1])

* **Regulatory Oversight**: The bill preserves the dual banking system, granting both federal and state agencies roles in chartering and enforcement. ([Senator Cynthia Lummis][1])

While the bill has garnered support from key financial regulators, it has faced criticism from some in the crypto community, who argue it may stifle innovation. ([Investopedia][2])

As of May 2025, the bill's progress is uncertain due to internal disagreements among lawmakers.

[1]: https://www.lummis.senate.gov/press-releases/lummis-gillibrand-introduce-bipartisan-landmark-legislation-to-create-regulatory-framework-for-stablecoins/?utm_source=chatgpt.com "Lummis, Gillibrand Introduce Bipartisan Landmark Legislation to Create Regulatory Framework for Stablecoins » Senator Cynthia Lummis"

[2]: https://www.investopedia.com/new-stablecoin-bill-raises-hackles-of-crypto-community-5090337?utm_source=chatgpt.com "New Stablecoin Bill Raises Concerns Among the Crypto Community"