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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/congress-takes-bold-steps-to-regulate-stablecoins-in-the-u-s/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Congress Takes Bold Steps to Regulate Stablecoins in the U.S.</a><br></p>
<p style="text-align: justify">Both the Senate and the House of Representatives in the United States are actively working on stablecoin regulation. The two chambers are making progress on new legislative proposals aimed at addressing the shortcomings of existing regulations. The White House has expressed support for certain proposals at various stages of the process.</p>
<h2 id="genius-act-process">GENIUS Act Process</h2>
<p style="text-align: justify">The Senate is detailing a proposal named the Guiding and Establishing National Innovation For US Stablecoins (GENIUS Act). This bill aims to impose a requirement for institutions issuing stablecoins to undergo both federal and state oversight. Additionally, issuers are required to maintain asset reserves at a 1:1 ratio.</p>
<h2 id="stable-act-developments">STABLE Act Developments</h2>
<p style="text-align: justify">In the House of Representatives, work continues on the Stablecoin Transparency And Accountability for a Better Ledger Economy (STABLE Act). This legislation imposes similar reserve and compliance requirements on stablecoin issuers while anticipating the implementation of federal banking regulations. The proposal is expected to be assessed by the House Financial Services Committee.</p>
<h2 id="white-house-direction">White House Direction</h2>
<p style="text-align: justify">According to internal opinions, the White House appears to favor the GENIUS Act in the regulation discussions. This proposal is believed to offer a more innovative approach, allowing smaller issuers to operate at the state level. Although both bills share similar elements, noticeable differences in methodology exist.</p>
<p style="text-align: justify">Official statements indicate that President Trump has called on Congress to approve the developing stablecoin legislation.</p>
<p style="text-align: justify">President Trump urged Congress to take action on this matter in the coming weeks. Executive Director Bo Hines anticipated that the regulation on Trump’s desk would emerge within two months.</p>
<p style="text-align: justify">As discussions continue through various legislative phases for the enactment of both bills, reports suggest the possibility of a compromise committee being involved. Experts believe that if the Senate achieves a voting majority, there is a likelihood of the House adopting the Senate’s proposal.</p>
<p style="text-align: justify">Uncertainties persist regarding the timing and details. The bills are viewed as crucial for establishing a regulatory framework and allowing the market to operate within orderly parameters.</p>
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Congress Takes Bold Steps to Regulate Stablecoins in the U.S.

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