The stablecoin bill receives strong support in the United States

The stablecoin bill is currently receiving strong support from both parties in the United States, especially under the push of the Trump administration. The GENIUS Act, aimed at regulating stablecoins and enhancing consumer protection, has garnered significant attention.

This act aims to establish clear rules for stablecoin issuers, including requirements for reserves and anti-money laundering measures.

Senators from both the Republican and Democratic parties have joined in support of the bill, showing strong momentum to pass stable legislation for this cryptocurrency market.

Some lawmakers, like Elizabeth Warren, have expressed concerns that the bill may not be sufficient to protect investors and have suggested that additional controls are needed.

The Financial Services Committee will review the bill on April 2, reflecting the growing influence of the cryptocurrency industry in Washington, DC.

If the bill is approved, stablecoin issuers may choose between federal or state charters, and foreign entities will also have to comply with US regulations regarding cryptocurrency.