The US Senate is preparing for a key vote on the Act on Engineering, a new bill that could shape the future of stablecoins in America. The vote is scheduled for Tuesday, June 17 and could mark a turning point for the regulation of cryptography in the country. The United States Secretary of the Treasury estimates that the market capitalization of the stables could exceed 2 dollars of dollars in the coming years.
What is genius?
The full name of the bill is the guide and the establishment of national innovation for the American stable law. Its objective is to provide legal clarity to stablescoins by establishing specific rules for issuers. If it is adopted, Stablecoin suppliers would be required to completely support their tokens with American dollars or other liquid assets. The bill also obliges annual audits for companies that issue more than $ 50 billion in stablescoins, and it includes additional compliance measures for foreign issuers like Tether.
What is happening after the Senate’s vote?
If the Senate adopts the law on engineering, the bill will move to the House of Representatives for a more in -depth examination and vote. The Chamber already has its version of a Stable Bill, called The Stable Act, which was passed out of the committee in May. However, the two bills differ in certain key areas, in particular in the way they regulate state issuers and manage the surveillance of Stablecoin foreign companies. For the legislation to become the law, the Senate and the House must agree on a final version of the bill.
- Read also:
- The United States can issue cryptographic obligations supported by Bitcoin and XRP, explains the old chaise-CFTC
- ,,
Why this counts now
Stablescoin legislation has become a burning subject, especially after President Donald Trump expressed support for clearer cryptographic laws. Trump wants to see progress by August, adding emergency to the process. Earlier this week, the Secretary in the United States of the Treasury, Scott Bessent, said that the adoption of such a law could open the door to massive growth in the Stablescoin sector. He even predicted that the market could explode more than 2 dollars by 2028. Currently, the USD Stablecoin market amounts to around $ 252 billion, according to Coingecko.
Tuesday’s vote could be the first major step towards the creation of a clear and unified rules book for stablecoins in the United States, whether the law on genius becomes the law or not, it is clear that Washington is finally serious about cryptographic regulations.
Globally, large investors are considering the StableCoin market, and if it is approved in the United States, it will open the door to global investors to flood the American market. In Parallel News, the largest fintech company in China, Ant Group, plans to launch stable payments and is preparing to ask for licenses in Singapore and Hong Kong.
Never miss a beat in the world of cryptography!
Stay in advance with the news, expert analysis and real -time updates on the latest Bitcoin, Altcoins, DEFI, NFTS, etc. trends
