#USStablecoinBill As of May 8, 2025, the U.S. Congress is actively deliberating several bills aimed at establishing a federal regulatory framework for stablecoins. These legislative efforts are unfolding amidst heightened political tensions, particularly concerning former President Donald Trump's involvement in cryptocurrency ventures.
šļø Key Stablecoin Legislation in 2025
1. GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins)
Introduced by: Senators Bill Hagerty (R-TN), Tim Scott (R-SC), Cynthia Lummis (R-WY), and Kirsten Gillibrand (D-NY)
Purpose: To create a federal licensing and oversight framework for payment stablecoin issuers, including both banks and nonbanks.
Key Provisions:
Permits issuance by subsidiaries of insured depository institutions, credit unions, or qualified nonbank entities.
Imposes capital, liquidity, and risk management standards.
Clarifies that payment stablecoins are not securities under federal law.
Grants state regulators primary authority, with federal backup powers in exigent circumstances.
Status: Passed the Senate Banking Committee on March 13, 2025, with an 18ā6 vote.
2. STABLE Act of 2025 (Stablecoin Transparency and Accountability for a Better Ledger Economy)
Introduced by: Representatives French Hill (R-AR) and Bryan Steil (R-WI)
Focus: Enhancing transparency and accountability for stablecoin issuers.
Key Provisions:
Requires stablecoin issuers to maintain 1:1 reserves.
Mandates regular audits and disclosures.
Subjects issuers to oversight by appropriate federal banking agencies.
Status: Passed the House Financial Services Committee in April 2025.
3. End Crypto Corruption Act
Introduced by: Senator Jeff Merkley (D-OR)
Objective: