STABLE Act Passes House Committee, Creating Framework for USD Stablecoins
The post STABLE Act Passes House Committee, Creating Framework for USD Stablecoins appeared on BitcoinEthereumNews.com.
TLDR The U.S. House Financial Services Committee approved the STABLE Act with a 32-17 vote The bill creates a regulatory framework for USD-pegged stablecoins like USDT and USDC Six Democrats joined Republicans in supporting the bill despite concerns about Trump family connections to stablecoins The Senate has its own version called the GENIUS Act that passed committee with bipartisan support Traditional banks including Bank of America are exploring stablecoin launches as regulation clarifies The United States has taken a major step toward regulating stablecoins with the House Financial Services Committee’s approval of the STABLE Act. The committee passed the bill with a 32-17 vote on April 2 after a 13-hour discussion. Six Democrats joined Republicans to move the legislation forward. The STABLE Act, formally named the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, aims to create clear guidelines for USD-pegged stablecoins. These digital assets include popular tokens like Tether (USDT) and Circle (USDC). 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 — Financial Services GOP (@FinancialCmte) April 3, 2025 Committee Chair Rep. French Hill and Subcommittee Chair Rep. Bryan Steil announced the decision to advance the bill. Hill stressed how blockchain technology “continues to transform the way money moves” during opening remarks. The bill forms part of ongoing efforts to promote financial innovation through sound digital asset policy. It would establish a formal regulatory structure for stablecoins while maintaining balance between innovation and consumer protection. Political Tensions Around Trump Connections The vote proceeded despite controversy over President Donald Trump’s family connections to crypto ventures. The Trump family recently launched World Liberty Financial USD (USD1), a stablecoin through their World Liberty Financial venture. Democrats raised concerns about potential conflicts of interest during the markup session. They…
Filed under: News - @ April 3, 2025 9:23 am