Donald Trump supports the law on engineering, a bill recently adopted in the Senate focused on stablecoins regulations. He called it a brilliant step forward and urged the representative’s room to pass it quickly, without adding anything again.
Trump posted on Truth Social, saying that this bill would make the “undisputed leader” in digital assets in the United States and could provide significant investments and innovations. He clearly indicated that he wanted the bill on his “fast flash” desk, with “no delays, no supplements”.
The act of engineering establishes the first rules of Stablecoin
The Act on Engineering, recently adopted by the Senate during a vote of 68-30, is the first American bill focused on stablescoins, digital tokens linked to the US dollar. It provides for full reserve support 1: 1, appropriate licenses and strong money-breaches controls. The bill also limits how transmitters can use reservations, aimed at preventing risky practices and protecting consumers.
While most of the House Republicans support the regulation of Stablecoins, some are planning to combine the act of engineering with a broader cryptocurrency bill. This wider package would define how digital assets are regulated between different agencies. However, Trump warned of this approach, saying that it would slow down progress and risk losing momentum.
Senator Hagerty wants the bill to be signed before July 4
Senator Bill Hagerty, who sponsored the bill, agrees with the call for Trump’s speed. He hopes to have the law signed before July 4. He also warned that adding new documents or merging them with other bills could delay the Senate approval, where 60 votes are necessary.
Political tensions always at stake
Although the bill is adopted now, some Democrats have still expressed concerns. Senator Elizabeth Warren said that the bill could benefit Trump’s family because of their links with Stablecoin projects, such as USD1. Others, like Senator Mark Warner, have raised problems but admitted that the United States could not afford to late in the world race on digital assets.
Although the bill is widely accepted, large institutions and banks are ready to enter once these rules come into force. The objective is to make stable backs in the US dollars worldwide, in particular against Asian regulators. With Trump supporting the bill, social media buzzes with clear rules and new investments, while others are worried about politics and precipitating the process.
