The Financial Services Committee in the US House of Representatives voted from 32 to 17 to pay a bill aimed at organizing Stablecoins. A handful of Democrats joined the Republicans in favor of this measure, reflecting one of the few areas of the two -party agreement.
Draft Suggest Stablecoins is supported by assets such as US dollars or short -term government debts under federal or federal control. Republicans and some Democrats believe that Stablecoins is an innovative way to provide faster and cheaper transactions than traditional banking networks. They look at the Federal Organizational Temple as the best way to protect consumers while encouraging currency currency to stay in the United States.
HR 2392, Stablecoin transparency and accountability for the best Ledger (stable) law for 2025 The committee was passed 32-17. pic.twitter.com/Pvztofttr1
Financial Services (Financialcmte) April 3, 2025
The committee rejected proposals from the best Democrats to ban Trump and his family and technology companies to create their Stablecoins. These provisions included a procedure that prevents taxpayer rescue operations for the failure of Stablecoin projects, which also did not pass.
The head of the French French Arkansas team opened the meeting by saying, “Innovation needs degrees, not road barriers.” Hill and the colleagues of supporters Stablecoins sees an opportunity to update across border payments and reduce dependence on bank -based systems. The Bill of the House of Representatives shares many similarities with the issuance of the Senate Banking Committee last month, and legislators say they hope to reconcile any differences soon so that it can move forward in the Trump office.
One of the conflicts is whether the algorithms should be allowed, which do not reserve a recognized currency like the dollar. Another question is how organizers should deal with federal or state allowance, as actors prefer a more flexible approach. Most supporters want to ensure that stable coins are met with safety and safety guidelines.
Maxine Waters invited the Trump family to own Stablecoin
Senior Democrats Maxine California have criticized the committee’s decision to drop its amendment, prohibiting Trump and his relatives from possessing Stoplene Vetshers. According to Water Water, Trump “benefited from the presidency to create multiple encryption plans to enrich himself and his family.”
She cited World Liberty Financial, a family encryption company planning its Stablecoin version. Witters argued in the absence of the draft law for rules that oppose interests, Trump benefits, Elon Musk, Trade Minister Howard Lottenic, and large technology companies such as Amazon, Meta and Wall Mart.
Despite these objections, the actor Gregory Mix from New York, a great democratic, to support legislation. Mix stressed the importance of “certainty” for the expanded cryptocurrency sector, even while expressing reservations about Trump’s involvement.
Meanwhile, the banking community expressed concern that stable metal currencies can drain deposits from traditional banks and reduce access to loans, while the main retail lounge supports legislation as a potential competitor for more payment systems such as credit cards.
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