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 .

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen