On April 2, the Financial Services Committee in the US House of Representatives approved the stable law, which now needs to pass a full vote in the House of Representatives and then the Senate vote in its next stages of approval of the law.
The transparency and accountability of Stablecoin has been approved about the best Ledger (stable) law with 32 to 17 votes.
The legislation, titled “Stablecoin Ristering and banker enforcement”, was presented in 2020 and failed to pass. It was originally aimed at organizing Stablecoin exporters by asking them to obtain banking covenants and follow traditional banking regulations.
.Financialcmte Just the stable verb passed. Full speed forward. pic.twitter.com/6nzndlhqcc
– Brian Steel (Repbryansteil) April 3, 2025
The stablecoin regulations move forward
The current stable verb, foot Once again in its modified form in March, it is slightly different from a similar bill presented in 2023.
The Currency Observer Office (OCC) grants “the authority to approve and supervise the exporters of the non -banking non -banking batch,” according to digital assets, financial technology, and the head of the Sub -Committee for Artificial Intelligence, Brian Steel.
“The stable law protects consumers while establishing the US dollar as a backup currency in the world and encouraging the next generation of Web3 companies here in the United States,” Stil said.
“I am pleased to support the stable law and continue the work of the Parliamentary Committee for Financial Services to apply for the organization Stablecoin, which protects a strong path to the state,” He said Republican Republican Mike Flood.
“Stablecoins can not only help develop their wealth, but also to promote values and leadership here at home and around the world,” Add California actor Yong Kim.
Meanwhile, a member of Congress Dan Miter He said It will make the legislation “make payments faster, cheaper and easier, which reduces costs to benefit from companies and consumers alike.”
The stable law defines a regulatory framework for the Stablecoins that will protect innovation and consumers. pic.twitter.com/bjcuxlpcnr
Financial Services (Financialcmte) April 2, 2025
Other bills related to Stablecoin also pass through the voting process in Congress, including the US Stablecoins (Genius) national innovation law, which defines stablecoin.
Stablecoin Ecological System
Two players are currently dominating the Stablecoin system: Tether, which gets a 60 % market share with $ 144 billion in trading, and a circle, with a share of 25 % and $ 60 billion.
Usds, previously known as Dai’s Dai, is the third largest stablecoin with $ 8 billion in trading and market share of 3.4 %.
Earlier this week, Circle applied for a long -awaited primary public offer with the US Securities and Stock Exchange Committee.
Meanwhile, Binance has installed many stablecoins, including USDT, Dai and Tusd, in European markets to comply with strict mica regulations.
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