Altcoin Hub logo Altcoin Hub logo
CoinGape 2025-04-03 04:20:26

Breaking: US Passes the STABLE Act for USD Stablecoins, Tether, Circle, Other to Benefit?

United States has finally passed the STABLE Act for all USD-pegged stablecoins operating in the country, such as Tether (USDT), Circle (USDC), and others. This is a major milestone for the US stablecoin industry as the US House Financial Services Committee passed the act with a 32-17 vote to bring clarity to this digital assets sector. STABLE Act Passes Committee with 32-17 Vote After a 13-hour-long discussion, Financial Services Committee Chair Rep. French Hill and Subcommittee Chair Rep. Bryan Steil announced their decision to pass the much-awaited stablecoin legislation . The STABLE Act seeks to provide a comprehensive regulation for stablecoin payments to function freely in the US financial system. It would create a regulatory framework specifically designed for USD-pegged stablecoins while maintaining an effective balance between technological innovation and consumer protection. Key provisions of the STABLE Act include: Establishing a formal regulatory structure for payment stablecoins. Creating strong consumer safeguards while allowing for continued innovation. Positioning the United States to maintain leadership in digital asset development. Providing clear regulatory parameters for industry participants. Modernizing the U.S. payment infrastructure. Ensuring USD Dominance In Global Finance Previously, US President Donald Trump stated that stablecoins are important to the US economy and would help maintain the dominance of the US Dollar in the global market. Speaking on the development, Congressman Dan Meuser stated : “The STABLE Act reinforces the U.S. dollar’s status as the world’s reserve currency by ensuring stablecoins operate within a secure, dollar-backed framework, in America. It will make payments faster, cheaper, and more accessible, reducing costs to the benefit of businesses and consumers alike”. The announcement comes at a time when President Donald Trump announced reciprocal tariffs while triggering strong volatility in global markets. US Banks Race Up for Stablecoin Launches Traditional US banks are once again joining the stablecoin bandwagon, showing growing interest in the USD-pegged digital assets. Global banks and fintech firms are also introducing their own stablecoins, leveraging growing adoption and supportive regulations. Adding to a roster of payment providers like Standard Chartered, PayPal, and Revolut, Bank of America (BoA) is now exploring the possibility of launching its own stablecoin. Similarly, two weeks ago, Custodia Bank and Vantage Bank have made history by launching the first U.S. bank-issued stablecoin on a permissionless blockchain. Named Avit, the stablecoin was issued, transferred, and redeemed on the Ethereum network. The post Breaking: US Passes the STABLE Act for USD Stablecoins, Tether, Circle, Other to Benefit? appeared first on CoinGape .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta