“The Committee of the House of Representatives of the United States on Financial Services approved the frame law of Stable Act on the regulation of “stable coins”, which will now go to Voting to Congress. HR 2392, The Stablecoin Transparency and Accountability for a Better Ledger Economy (Stable) Act of 2025 Passed Committee 32-17. pic.twitter.com/pvztoftttr1 – Financial Services GOP (@financialcmte) April 3, 2025 The document was approved by 32 votes for “for” and 17 […]”, – WRITE: Businessua.com.ua
The Committee of the House of Representatives of Financial Services approved the frame law Stable Act on regulation of “stable coins”, which will now go to the vote in Congress.
HR 2392, The Stablecoin Transparency and Accountability for a Better Ledger Economy (Stable) Act of 2025 Passed Committee 32-17. pic.twitter.com/pvztoftttr1
– Financial Services GOP (@financialcmte) April 3, 2025
The document was approved by 32 votes for and 17 against. The authors were supported by six Democrats after “significant improvements” in areas such as consumer protection.
Represented by the Chairman of the Committee French Gill and the chairman of the subcommittee of digital assets Brian Styles from the Republican Party, the Law establishes requirements for issuers of payment “stable coins”.
The latter require disclosure of information about their activities and token.
Democrats have expressed fears that Stable Act can be used in personal interests. Maxin Wters, which is part of the Financial Services Committee, saw the President’s efforts in the initiative “and his insiders to write traffic rules, which will enrich them with all others.”
According to the journalist Fox Business Eleonor Terrett, Tether representatives participated in the creation of the bill.
🚨New from me: Offshore Stablecoin Giant @Tether_to is Working with US LAWMAKERS TO INFLUENCE HOWING THESE FIAT-Backed Currencies Are Regulated in The Us
The Issuer of the World’s Largest Stablecoin $ USDT Has Been A Controversial Figure in US Crypto Policy Circles Due to An…
– Eleanor Terrett (@eleanorterRrett) February 14, 2025
CEO Issuer USDT Paolo Adolyo reported that the company “carefully monitors the development of legislative work and interacts with the supervisory authorities.” So he reacted to JPMorgan’s statements about the inconsistency of the US Congress initiative.
Nansen thought Nansen analysts have considered Stable ACT for its impact on the industry in case of approval:
Alternative An alternative bill (Genius ACT) also passes through Congress. It establishes supervision and reservation rules for issuers. On March 13, the US Senate Bank Committee approved it.
Both documents are waiting for the debate in the House of Representatives and the Senate.
Lobbyists from the crypto industry suggest coordinated work to reconcile them to avoid tightening the process.
🚨New: Both The Senate’s Genius Act and the House’s Stable Act Have Passed Out of Their Respect Committee.
SO NOW WHAT?
The Bills Await Debate Time on the Floor and A vote in their respective chambers. In the Meantime, Two Crypto Lobbyists Tell me there will be Likely be a… https://t.co/paa8gmlnq1
– Eleanor Terrett (@eleanoterrtret) April 3, 2025
According to Terrett, the House of Representatives intends to proceed on April 9 to consider the bill on the market structure.
Recall that Trump formed in January, a working group from the markets of digital assets marked among the priorities of creating a regulatory framework for “stable coins”.
According to FT, some global banks and Fintech Company are planning to launch their own steiblcoins to capture a proportion of rapidly growing market.
The gun
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