#USStablecoinBill After years of uncertainty, regulation of stablecoins is finally gaining momentum on Capitol Hill. Three competing bills—the GENIUS Act, the STABLE Act, and an unnamed proposal from Representative Maxine Waters (D-CA)—are vying to define the future of digital dollars in the US. This long-delayed push for clear rules could determine whether stablecoins become a mass financial instrument or remain stuck in a nebulous regulatory zone.

Earlier this month, the Senate Banking Committee advanced the GENIUS Act with a bipartisan vote of 18–6, marking the most significant step toward a federal framework for stablecoins. The bill defines a "payment stablecoin" as any crypto asset used for payments or settlements, where the issuer is required to redeem it for a fixed amount of US dollars.