Under the encouragement of President Trump for the cryptography sector, the Banque Committee of the US Senate managed to advance a bill regulating stablecoins. This marks an important decision to the fact that the legislation reaches the office of President Trump for his signature. The bill authorized the committee with a vote of 18 to 6 years, benefiting from the support of five Senate Democrats who joined the Republicans to advance the proposal.
The Stablecoin regulation bill heads to Trump
The Banque Committee of the American Senate has progressed with the bill on the regulation of stablescoin of the cryptocurrency industry, marking a critical movement towards presidential approval. After obtaining its approval from the inaugural committee, the bill aimed at regulating the American issuers of the stables in federally is ready for a vote in the Senate, with a bill similar to the House of Representatives.
Despite several obstacles to come, such as the reconciliation of the differences between the Senate and the versions of the Chamber, the Committee succeeded in the bill with a vote of 18-6.
Among the Democrats supporting the adoption of the law on genius were the co-partner of Bill Angela Alsobrooks and the members of the Banque Committee of the Senate Mark Warner, Andy Kim, Lisa Blunt Rochester and Ruben Gallego. Bill Hagerty, the sponsor of the bill, expressed his objective of bringing the bill to a full vote from the Senate by the end of April.
Read also: Just in: Senator Hagerty presents an act of genius to regulate the stablescoins
During the meeting of the Senate banking committee on Thursday, senator Elizabeth Warren, a known skeptic of the cryptocurrency, proposed several amendments to the Act on Engineering. This legislation aims to establish a legal framework allowing non -banking stabbing issuers to operate within the American economy.
Senator Elizabeth Warren suggested that changes in the engineering law that would smoothed stable to blacklist stable issues if their tokens were used for illegal activities, such as transactions with state enemies, drug trafficking or the purchase of juvenile pornography.
She also proposed to extend the regulation of the law to include the exchanges of crypto and other entities dealing with stablescoins. However, his proposed amendments were rejected according to the party’s parties.
The republican majority favors legislation on stables
Towards the end of the hearing, Elizabeth expressed solid reservations to advance the bill, highlighting her numerous gaps and the moment of his progress in the reports that Donald Trump was trying to launch his own stablecoin with a company known for legal violations. She refer to the news that World Liberty Financial Associated with Trump had negotiated with the crypto exchange.
Warren criticized the decision to advance the bill while Trump would have concluded agreements with what she called a criminal stablecoin platform, warning that it was an error likely to be regretted.
Hagerty said: “He presents common sense rules that protect consumers, promote competition and promote innovation. It is time that we provide the clarity and stability that our country and its innovators so desperately need. »»
This year, the cryptographic industry rally bipartite support for the congress for its policies. A notable bipartite success consisted in reverse an IRS rule opposed to the sector. After the 2024 elections have controlled the Republicans of the two chambers, Stablecoin’s legislation has become a key priority under the management of Scott.