US Passes STABLE Act for USD-pegged Stablecoins

The United States has passed the STABLE Act, regulating USD-pegged stablecoins like Tether (USDT) and Circle (USDC).

This marks a significant milestone for the US stablecoin industry, with the US House Financial Services Committee approving the act with a 32-17 vote to clarify this sector.

The STABLE Act, supported by Financial Services Committee Chair Rep. French Hill and Subcommittee Chair Rep. Bryan Steil, aims to regulate stablecoin payments within the US financial system.

It establishes a regulatory framework for USD-pegged stablecoins, balancing innovation with consumer protection.

Key aspects include establishing a formal regulatory structure for payment stablecoins, implementing strong consumer safeguards while promoting innovation, positioning the US as a leader in digital asset development, providing clear guidelines for industry participants, and modernizing the US payment infrastructure.