The U.S. Congress is actively considering two major bills aimed at regulating stablecoins: the GENIUS Act in the Senate and the STABLE Act in the House. Both bills seek to establish a comprehensive federal framework for stablecoin issuance and oversight.
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🏛️ GENIUS Act (Senate)
Introduced by Senator Bill Hagerty (R-TN) and co-sponsored by Senators Kirsten Gillibrand (D-NY) and Angela Alsobrooks (D-MD), the GENIUS Act aims to create a robust regulatory structure for stablecoins. Key provisions include:
Permitted Issuers: Only entities approved by federal or state regulators can issue stablecoins.
Regulatory Oversight: Stablecoin issuers would be regulated by the Office of the Comptroller of the Currency (OCC) or state regulators.
Consumer Protections: The bill includes measures to ensure transparency and safeguard against fraud.
