#Novedades Bo Hines: US Stablecoin Bill Could Arrive in the "Next 2 Months"

According to Bo Hines, the bipartisan approval of the GENIUS Act by the Senate Banking Committee means that legislation on stablecoins could reach the president's desk in a matter of months.

Bo Hines, the executive director of the Presidential Council of Advisors on Digital Assets, said that comprehensive legislation on stablecoins is expected to be finalized in the coming months, emphasizing the urgency of the government to maintain the dominance of the US dollar in on-chain activity.

Speaking at the Digital Asset Summit in New York on March 18, Hines said that legislation on stablecoins is "imminent" following the approval of the GENIUS Act by the Senate Banking Committee last week.

The GENIUS Act, which stands for Guiding and Establishing National Innovation for US Stablecoins, establishes collateralization guidelines for stablecoin issuers and requires full compliance with anti-money laundering laws.

"We saw that vote come out of the Senate Banking Committee in an extremely bipartisan manner, [...] which was fantastic to see," Hines said, adding:

"I think our colleagues across the aisle also recognize the importance of US dominance in this space, and are willing to work with us here, and that is what is really exciting about this. You know, there are not many issues in Washington, DC, where people can come together from both sides of the aisle and really push the United States forward in a comprehensive way."