#USStablecoinBill Reasons and arguments from the U.S. Senate to promote the Stablecoins Act*ñ

The U.S. Senate has pushed for legislation on stablecoins, such as the **GENIUS Act** and the **Lummis-Gillibrand Act**, motivated by multiple key reasons and arguments, which include:

*Preserving the hegemony of the U.S. dollar**

- **Central Argument**: Dollar-backed stablecoins (like USDT and USDC) are critical tools for maintaining the global influence of the dollar, especially in light of competitors like the euro under the EU's MiCA regulatory framework.

- Legislators such as Cynthia Lummis and Kirsten Gillibrand argue that a clear regulatory framework will prevent foreign issuers (e.g., Tether) from dominating the market without oversight, which could erode the dollar's position.