#USStablecoinBill

U.S. Stablecoin Bill Development

Congress is advancing two major bills to regulate stablecoins in the U.S.:

1. GENIUS Act (Senate)

Aims to regulate "payment stablecoins" and ensure full 1:1 asset backing.

Passed the Senate Banking Committee with bipartisan support.

Recently faced pushback from 9 Senate Democrats over concerns about money laundering, national security, and Trump-linked stablecoin ventures.

2. STABLE Act (House)

Establishes federal oversight for permitted stablecoin issuers (banks, credit unions, select nonbanks).

Includes penalties for unauthorized issuance and limited exceptions for foreign issuers.

Key Issues

Political tensions, especially around Trump’s ties to a $2B stablecoin venture, have complicated bipartisan support.

Differing approaches to foreign issuer treatment and regulatory jurisdiction between the two bills.

These bills will shape how stablecoins are issued, regulated, and used in the U.S. going forward.