The US House Committee passes a bill to strengthen stablecoin oversight
US lawmakers are advancing stablecoin legislation aimed at increasing transparency, securing reserves, and strengthening the dollar’s role in digital payments.
The US House Financial Services Committee has passed a bill aimed at regulating stablecoins, moving it to a full House vote. On 2 April, the Committee approved the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act in a 32-17 vote.
The bill outlines a regulatory framework for payment stablecoins such as USDT and USDC. It mandates transparency in token reserves, ensuring issuers hold sufficient dollar-equivalent assets to back their circulating supply.
Key provisions focus on consumer protection and reducing risk for stablecoin users. The bill also aims to strengthen the role of the dollar in digital finance.
Supporters argue the bill will modernise the US payment infrastructure, making transactions faster and more cost-effective. They also emphasise the importance of maintaining space for innovation.
Congressman Dan Meuser highlighted that the legislation reinforces the dollar’s position as the world’s reserve currency. Meanwhile, Congressman Troy Downing emphasised his role in balancing innovation with strong consumer protections.
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