{"id":22692,"date":"2025-04-03T14:53:48","date_gmt":"2025-04-03T11:53:48","guid":{"rendered":"https:\/\/forklog.com\/en\/us-house-of-representatives-to-vote-on-stablecoin-regulation-bill\/"},"modified":"2025-04-03T14:53:48","modified_gmt":"2025-04-03T11:53:48","slug":"us-house-of-representatives-to-vote-on-stablecoin-regulation-bill","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-house-of-representatives-to-vote-on-stablecoin-regulation-bill\/","title":{"rendered":"US House of Representatives to Vote on Stablecoin Regulation Bill"},"content":{"rendered":"<p>The US House Financial Services Committee has approved the framework bill<a href=\"https:\/\/u1f987.com\/en\/news\/us-congress-unveils-draft-bill-for-stablecoin-regulation\"> STABLE Act<\/a> for regulating &#8220;stablecoins,&#8221; which will now proceed to a vote in Congress.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">H.R. 2392, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025 passed Committee 32-17. <a href=\"https:\/\/t.co\/pvzTOfTTr1\">pic.twitter.com\/pvzTOfTTr1<\/a><\/p>\n<p>\u2014 Financial Services GOP (@FinancialCmte) <a href=\"https:\/\/twitter.com\/FinancialCmte\/status\/1907630353637879895?ref_src=twsrc%5Etfw\">April 3, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The document was approved with 32 votes in favor and 17 against. The authors gained support from six Democrats after <a href=\"https:\/\/www.hagerty.senate.gov\/press-releases\/2025\/03\/10\/hagerty-leads-colleagues-in-reintroducing-updated-legislation-on-stablecoins\/\">&#8220;significant improvements&#8221;<\/a> in areas such as consumer protection.<\/p>\n<p>Introduced by Committee Chairman French Hill and Digital Assets Subcommittee Chairman Bryan Steil from the Republican Party, the bill sets requirements for issuers of payment &#8220;stablecoins.&#8221;\u00a0<\/p>\n<p>The latter are required to disclose information about their activities and the backing of tokens.<\/p>\n<p>Democrats expressed concerns that the STABLE Act could be used for personal gain. Maxine Waters, a member of the Financial Services Committee, saw the initiative as an effort by the president &#8220;and his insiders to write the rules of the road that will enrich themselves at the expense of everyone else.&#8221;<\/p>\n<p>According to FOX Business journalist Eleanor Terrett, representatives from Tether were involved in the creation of the bill.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?NEW from me: Offshore stablecoin giant <a href=\"https:\/\/twitter.com\/Tether_to?ref_src=twsrc%5Etfw\">@Tether_to<\/a> is working with U.S. lawmakers to influence how these fiat-backed currencies are regulated in the U.S.<\/p>\n<p>The issuer of the world\u2019s largest stablecoin <a href=\"https:\/\/twitter.com\/search?q=%24USDT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDT<\/a> has been a controversial figure in U.S. crypto policy circles due to an\u2026<\/p>\n<p>\u2014 Eleanor Terrett (@EleanorTerrett) <a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/1890537406878871747?ref_src=twsrc%5Etfw\">February 14, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CEO of USDT issuer Paolo Ardoino<a href=\"https:\/\/u1f987.com\/en\/news\/tether-ceo-challenges-jpmorgans-us-regulatory-analysis\"> stated<\/a> that the company &#8220;is closely monitoring the legislative developments and engaging with regulators.&#8221; This was in response to JPMorgan&#8217;s claims about the coin&#8217;s non-compliance with US Congressional initiatives.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Nansen&#8217;s View<\/strong><\/h2>\n<p>Nansen analysts <a href=\"https:\/\/t.me\/nansenresearch\/221\">examined<\/a> the Stable Act for its potential impact on the industry if approved:<\/p>\n<ol class=\"wp-block-list\">\n<li>Winners \u2014 expected regulated issuers like USDC, PYUSD, and banks will benefit from clear rules and timely compliance.<\/li>\n<li>Negative impact \u2014 algorithmic stablecoins (at least for now), yield-bearing tokens <a href=\"https:\/\/ru.ruwiki.ru\/wiki\/%D0%9B%D0%B8%D0%BC%D0%B1_(%D1%80%D0%B5%D0%BB%D0%B8%D0%B3%D0%B8%D1%8F)\">in a &#8220;limbo&#8221; state<\/a> (payment &#8220;stablecoins&#8221; are not allowed to offer such an option).<\/li>\n<li>Forecast: market consolidation ahead; backend infrastructure (compliance, custody, etc.) will see significant growth.<\/li>\n<\/ol>\n<h2 class=\"wp-block-heading\"><strong>Alternative<\/strong><\/h2>\n<p>An alternative bill (<a href=\"https:\/\/u1f987.com\/en\/news\/david-sacks-prioritizes-bitcoin-reserve-assessment\">GENIUS Act<\/a>) is also moving through Congress. It sets oversight and reserve rules for issuers. On March 13, the US Senate Banking Committee<a href=\"https:\/\/u1f987.com\/en\/news\/us-senate-banking-committee-backs-stablecoin-regulation-bill\"> approved<\/a> it.<\/p>\n<p>Both documents await debates in the House of Representatives and the Senate.<\/p>\n<p>Crypto industry lobbyists anticipate coordinated efforts for their alignment to avoid delays in the process.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?NEW: Both the Senate\u2019s GENIUS Act and the House\u2019s STABLE Act have passed out of their respective committees. <\/p>\n<p>So now what? <\/p>\n<p>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 likely be a\u2026 <a href=\"https:\/\/t.co\/Paa8gmlNq1\">https:\/\/t.co\/Paa8gmlNq1<\/a><\/p>\n<p>\u2014 Eleanor Terrett (@EleanorTerrett) <a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/1907647111065194511?ref_src=twsrc%5Etfw\">April 3, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Terrett, the House of Representatives intends to move to consider<a href=\"https:\/\/u1f987.com\/en\/news\/us-house-of-representatives-passes-crypto-regulation-bill\"> the market structure bill<\/a> on April 9.<\/p>\n<p>Back in January, the <a href=\"https:\/\/u1f987.com\/en\/news\/white-house-working-group-to-assess-a-national-crypto-reserve\">working group<\/a> on digital asset markets formed by Trump identified <a href=\"https:\/\/u1f987.com\/en\/news\/david-sacks-prioritizes-bitcoin-reserve-assessment\">the creation of a regulatory framework<\/a> for &#8220;stablecoins&#8221; as a priority.\u00a0<\/p>\n<p>According to FT, some global banks and fintech companies <a href=\"https:\/\/u1f987.com\/en\/news\/global-banks-and-fintech-firms-enter-the-stablecoin-race\">plan to launch<\/a> their own stablecoins to capture a share of the rapidly growing market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US House Financial Services Committee has approved the framework bill STABLE Act for regulating &#8220;stablecoins,&#8221; which will now proceed to a vote in Congress. H.R. 2392, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025 passed Committee 32-17. pic.twitter.com\/pvzTOfTTr1 \u2014 Financial Services GOP (@FinancialCmte) April 3, 2025 The document [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,807],"class_list":["post-22692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=22692"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/22691"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=22692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=22692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=22692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}