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As the two chambers of Congress proceed with their stablecoin bills, the White House is signaling support for one proposal. Both Houses are barreling toward tying up loose legislative ends to table a final version of President Donald Trump’s Desk. The GENIUS Act Gathers Significant Steam According to reports, a robust stablecoin regulation is coming to the US in the coming months. The US Senate is deliberating over the Guiding and Establishing National Innovation For US Stablecoins (GENIUS Act), inching forward to a full vote. Following the US Senate Banking Committee’s approval, the GENIUS Act is ready for a full vote on the floor of the Upper Chamber. The legislation, presented by Senator Bill Hagerty seeks to provide a a robust regulatory framework for stablecoins in the US. A quick scan into the wording of the bill reveals provisions for stablecoin issuers to receive approvals from federal and state regulators. There is a requirement for issuers to maintain reserves on a 1:1 basis using acceptable assets. House Of Reps Inch Forward With STABLE Act In the Lower Chamber, the Stablecoin Transparency And Accountability for a Better Ledger Economy (STABLE Act) is scaling legislative hurdles. The STABLE Act is poised for markup by members of the House Financial Services Committee in early April. Akin to GENIUS, the STABLE Act provides for equivalent reserves with full backing while pushing for stringent audits akin to banking institutions. While GENIUS and STABLE Acts share several similarities, there are key differences in their design. For starters, the STABLE Act seeks to impose the same federal banking regulation on stablecoin issuers while GENIUS proceeds with a tiered approach.  President Trump has urged Congress to pass stablecoin legislation in the coming weeks to match new policy direction. Which One Will The White House Favor Insiders say the…

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Filed under: News - @ March 24, 2025 11:28 pm