TechFlow, April 3 — According to The Block, the U.S. House Committee on Financial Services passed a stablecoin regulatory bill by a vote of 32 in favor and 17 opposed.
The bill, titled "Stablecoin Transparency, Accountability, and Ledger Efficiency" (STABLE), establishes a framework for dollar-denominated stablecoins. It sets forth reserve and capital requirements, including one-to-one reserve backing and anti-money laundering standards.
During Wednesday's meeting, several amendments focused on Trump's ties to cryptocurrency and potential bailout measures. According to a Republican aide speaking at a press conference last week, lawmakers may next consider advancing broader regulatory legislation for the cryptocurrency industry.
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