#USStablecoinBill In 2025, the U.S. Congress has made significant strides toward regulating stablecoins, with two key legislative proposals: the STABLE Act in the House and the GENIUS Act in the Senate. These bills aim to establish a federal regulatory framework for dollar-denominated payment stablecoins, addressing issuance, reserve requirements, and consumer protections while promoting U.S. dollar dominance and financial innovation. Below is a concise overview based on recent developments:

Key Legislative Developments

STABLE Act (House):

Introduced by Reps. French Hill and Bryan Steil on March 26, 2025, as the Stablecoin Transparency and Accountability for a Better Ledger Economy Act (H.R. 2392).

Passed the House Financial Services Committee on April 2, 2025, with a bipartisan 32-17 vote, including support from six Democrats.

Key provisions:

Requires 1:1 reserve backing with high-quality assets (e.g., U.S. dollars, Treasury bills, demand deposits).

Mandates monthly audits and Anti-Money Laundering (AML) compliance.

Prohibits interest payments on stablecoins to prevent competition with insured bank deposits.

Imposes a two-year moratorium on issuing endogenously collateralized stablecoins (e.g., algorithmic stablecoins not backed by fiat).

Aims to secure the U.S. dollar’s role as the world’s reserve currency and ensure regulatory clarity.

Awaits a full House floor vote, with efforts to align it with the Senate’s GENIUS Act to avoid a conference committee.

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