The United States Congress has introduced the STABLE Act, a second bill focused on regulating stablecoins and seeking to complement the well-known GENIUS Act.
Congressmen Bryan Steil and French Hill introduced the STABLE Act, a regulatory bill that complements the GENIUS Act, passed by the Senate on March 14, to regulate the stablecoin market in the country.
Both bills reflect the Trump administration's interest in creating a regulatory framework for these dollar-pegged cryptocurrencies, which exceed $240.000 billion in market capitalization and are key to cross-border payments and the DeFi ecosystem.
TRADE WITH STABLECOINSWhat is the STABLE Act and what does it seek to regulate?
Congressmen Steil and Hill introduced the STABLE Act as a bipartisan bill seeking to establish a federal regulatory framework for dollar-pegged stablecoins, prioritizing transparency and financial security. This new bill builds on previous efforts such as the GENIUS Act, already advancing in Congress, and seeks to eliminate legal ambiguities that allowed stablecoins to operate in gray areas without adequate oversight.
The bill defines key terms such as «payment stablecoin» and designates federal regulators to oversee various areas, such as capital requirements, liquidity, and risk management. It also requires issuers of these digital currencies to publish periodic reports on their asset reserves and undergo independent audits, ensuring that users can verify their backing. The STABLE Act also includes criminal penalties for noncompliance, such as fines and penalties for false certifications.
The bill currently enjoys bipartisan support, with prominent figures such as Republican Tom Emmer and Democrat Ritchie Torres. Emmer emphasized his role in positioning the United States as a leader in global financial modernization, while Torres highlighted its importance in responsibly integrating stablecoins into the financial system. This collaborative approach between the two seeks to align the House and Senate versions of the bill, closing regulatory gaps and accelerating its passage.
PREPARE YOUR WALLETThe GENIUS Act: The regulatory supplement focused on national security
La reciente The GENIUS Act, an acronym for “Guiding and Establishing National Innovation for US Stablecoins,” led by Senator Bill Hagerty, also seeks to regulate the stablecoin market in the country, but with a more specific focus on national security and the protection of the dollar. This law was approved by the Senate Banking Committee in mid-March, authorizing the Secretary of the Treasury to freeze stablecoin transactions, such as USDT or USDC, if illicit activity is suspected.
Furthermore, the GENIUS Act requires stablecoins to be 100% backed by dollar-denominated assets, such as short-term government debt or highly liquid reserves, a measure intended to strengthen the dollar's position as a global reserve currency.
How do both projects complement each other?
The STABLE Act and the GENIUS Act reflect complementary strategies for regulating stablecoins in the US market. While the former establishes general standards for transparency and oversight, the latter delves into specific measures to protect the dollar and combat potential illicit activity.
TRADE WITH STABLECOINSFor example, the STABLE Act defines clear roles for federal regulators, while the GENIUS Act grants the Treasury specific authority to intervene in cases of suspected illegal activity. However, despite their approaches, both bills agree on requiring dollar-backed reserves, although the GENIUS Act is stricter, requiring 100% backing.
On the other hand, due to their focus on stablecoins, Representative Tom Emmer notes that the differences between the bills are minor and could be resolved during the legislative process. However, some critics have pointed out that combining the approaches of both regulatory bills could create complexity for stablecoin issuers, especially if auditing and oversight requirements overlap.
The regulatory battle over cryptocurrencies in the United States
The introduction of the STABLE Act and the advancement of the GENIUS Act mark a turning point in cryptocurrency regulation in the United States. Both bills reflect the Trump administration's interest in positioning the country as a global leader in the cryptoasset market, although their implementation will depend on congressional reconciliation.
El close On April 2, the House Financial Services Committee will debate the GENIUS Act, a key step toward its final passage. Meanwhile, the STABLE Act could face adjustments during its passage through the House, where consultations with stakeholders have already taken place.
INVITE AND WINIn conclusion, the introduction of this bill and the advancement of the GENIUS Act demonstrate the U.S. Congress's commitment to regulating stablecoins and cryptocurrencies in general, balancing consumer protection and financial security with the need to drive technological innovation.
With this legislative debate underway, the United States is increasingly positioning itself as a key player in the market, potentially significantly influencing the definition of global standards for digital assets.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
