A new bill in the USA establishes federal rules for stablecoins. It introduces a two-tier system: small issuers (up to $10 billion) are regulated by states, while large ones are under the supervision of the Fed and OCC. The law requires full 1:1 reserve backing, prohibits algorithmic stablecoins, and strengthens AML/KYC. The bill has support from Republicans, but some Democrats have withdrawn it due to concerns about money laundering and potential influence from the Trump family's business interests. This is the first major attempt to give stablecoins a clear legal status in the USA.
