The US Senate is practicing the first draft law organizing the main Stablecoin star-news.press/wp

Encryption correspondent

Shalini Nagarajan

Encryption correspondent

Shalini Nagarajan

About the author

Shalini is an encrypted correspondent that provides in -depth reports on daily developments and organizational transformations in the encrypted currency sector.

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Last update:

June 17, 2025

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The US Senate on Tuesday consent The most legislation of the blades so far, and its heroine has been going on for a long time Genius With strong support from the two parties.

The vote, which removed the Chamber from 68 to 30, represents the first time that the Senate developed an organizational framework specifically for Stablecoins, a rapidly growing angle in the digital asset industry.

With the support of 18 Democrats and most Republicans, the bill is transmitted next to the House of Representatives, where legislators were working on a similar framework.

If the House of Representatives succeeds in a reconciliation version, the legislation will go to President Donald Trump’s office, and is compatible with the administration’s batch to make the official nature of the encryption policy before the August holiday.

The Senate Bill calls for monthly disclosure and supporting the solid assets of Stablecoin Exporters

Representative Senator Bill Hajari described Tennessee, who sponsored the draft law, the clip as a decisive moment of US financial infrastructure.

He said in the Senate Hall, “The possibility of the fastest and cheapest payments will have far -reaching effects on our financial system,” he said in the Senate Hall. “Stablecoins is the development of a model change that can bring our payment system to the twenty -first century.”

The genius law, which was short to “guarantee the basic national infrastructure using Stablecoins”, seeks to regulate digital -backed digital symbols that are often used to transfer money via Blockchain networks.

The draft law will require that stablecoins be fully supported by liquid assets such as US dollars or treasury bills and clarify the monthly general disclosure of these reserves. It also limits Stablecoin’s version of licensed institutions and current federal officials from launching their distinctive symbols.

Fears about foreign funds and moral gaps have almost stopped the genius law

But the road to Tuesday’s vote was not smooth. In May, the bill stopped after Democrats raised concerns about the dangers of national security and ethics. The revelation that Abu Dhabi company planned to invest in Binance using Stablecoins issued by a company linked to Trump, which led to an increase in these concerns, which prompted calls to the tougher handrails.

It follows weeks of closed negotiations. The main changes included more strict ethical disclosure of officials who hold Stablecoins, and added protection to bank customers in the event of bankruptcy, and delegating the cabinet to oversee suspicious activity.

These reviews have helped enhance enough Democrats to push the bill.

The Senate vote on the guarantees, but it is related to the survival of gaps

However, critics remained. Senator Elizabeth Warren, Massachusetts, has long been skeptical of encryption for a long time, warned that the bill is still short. “This is a draft law written by industry,” she said, adding that it “will ship the profitability of Donald Trump’s corruption in consumer protection.”

However, legislative supporters have argued that leaving the irregular sector would only increase the risks. Democratic Senator Kirsten Gilbrand, who helped formulate the draft law, described the space of digital assets as the “wild West”.

She said that consumers are still being exposed and that companies are still lacking organizational clarity. While she admitted concerns about Trump’s encryption relations, she said that they should not hinder the efforts to bring the regime to the industry.

Layat Sitriit, Vice -President of Global Policy and Organization at the Halli -Blockchain Analysis Company, described the Senate vote as a “pivotal step in shaping the future of digital assets in the country.” She added: “It is clear that the strong protection of consumers and the protection of the safety of the market was essential in the approval of the leadership, and the genius law benefited from strong non -partisan support.”

The House of Representatives is expected to take legislation in the coming weeks. While some industry defenders urged quickly, others, including the conference supervisors’ conference, press the main changes to address potential risks to financial stability. The final form of the draft law may still turn before it lands on the president’s office.