#USStablecoinBill The US stablecoin bill, officially known as the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in the Senate and the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act in the House, aims to establish a federal framework for payment stablecoins. These bills require stablecoin issuers to maintain 1:1 reserves in liquid assets like cash and Treasury bills and undergo regular audits.

The GENIUS Act, spearheaded by Senator Bill Hagerty, seeks to create a dual regulatory system where stablecoin issuers with over $10 billion in outstanding value would fall under federal oversight (either the Federal Reserve or the OCC), while smaller issuers could be regulated at the state level, provided their standards are "substantially similar" to the federal ones. Recent developments show that some Senate Democrats have expressed concerns about insufficient safeguards in the current version of the GENIUS Act regarding anti-money laundering, national security, and consumer protection, potentially jeopardizing its passage.

The STABLE Act, which advanced through the House Financial Services Committee, focuses on transparency and accountability, requiring issuers to disclose reserve compositions monthly. It also aims to prevent non-financial companies from issuing stablecoins directly. Both bills are being reconciled to create a unified piece of legislation. The ultimate goal is to provide regulatory clarity, protect consumers, and reinforce the US dollar's role in the evolving digital financial landscape.