The American legislation on the StablesCoind has taken another major step on Wednesday as a committee of the House of Representatives, joined the counterparts of the Senate to advance a bill to be considered by the global chamber, bringing the stablecoin regulations closer to reality.
The possible approvals of the global chamber and the Senate allowed the legislators to merge the two versions in unified legislation which could obtain a final head. Republican legislators and President Donald Trump aimed at an August objective to obtain the effort.
Although the cryptographic industry and their most reliable republican allies in Congress have been happy to welcome many democrats within the framework of the yes to move the transparency and responsibility of the stablescoin for a better economy of the big book (stable act) of the Chamber’s financial services committee on Wednesday, the Democrats of the Panel constantly raised concerns about Trump’s ties to industry and Stablecoins. However, five Democrats joined 27 Republicans on the Committee to advance the bill after a marathon marking session.
A week before the Chamber Committee focuses on the bill in the increase on Wednesday – a session during which the legislators make changes and debate changes to the legislation – the World Liberty Financial (WLFI) on the occasion of Trump (WLFI) announced that it supported its own stablecoin (USD1). Trump was very active in the crypto, especially in the sale of non -buttocks (NFTS) and the same $ Trump, even if he puts pressure on friendly policies at the federal level.
US stable regulations – generally tokens related to a dollar, such as the USDT from TETHER and the CIRCLE USDC – is one of the two main political priorities for industry. And the president of the French Hill committee argued on behalf of the industry that “innovation needs railing, no roadblocks”.
Republican members refused to discuss the participation of the industry of President Trump in explicit terms. When Waters and other Democrats pushed the amendments to block potential conflicts raised by the president’s commercial interests and his direct authority on regulators who would make decisions concerning stablecoins, they were rejected by the Panel Republicans, who have repeatedly called “unnecessary” protections.
“We do not discriminate the entrepreneurs according to who they are and where they come from,” said Hill. If the government wants clear railings around this space, he said on several occasions, the best decision is to pass the bill which establishes surveillance.
The representative Maxine Waters, the senior panel democrat, said that Trump “had exploited the power of the presidency to establish several crypto plans to enrich himself and his family,” calling him a “demonstration of greed”.
“He does not look like any other issuer, because he is the President of the United States,” said representative Stephen Lynch, the Democrat in the classification of the subcommittee of digital assets of the panel, who argued that Trump would be able to sign any government aid necessary by his own commercial interests if they failed. “If it was a democratic president who was trying to do so, the hair of the Republicans would be on fire, and rightly. It should not happen.”
Another democrat, the representative of Illinois, Sean Castin, argued that Justin Sun de Tron has put tens of millions of dollars in the WLFI for no clear feedback other than his relationship with the Trump family. He argued that government representatives linked to stablecoins could be influenced by foreign investors in a hidden manner on public examination.
Democratic arguments have failed to remove the republican majority of the committee, so no new amendment has reached effort. The supporters said that this version of the room was largely parallel to the Senate. Representative Bill Huizenga, a Michigan republican, said that the room version maintains authority correctly in the hands of state regulators, which offers a “lighter touch, sometimes”.
“We have a ready to adopt these products, and the moment is now,” said Huizenga.
It was one of the few bills before the Chamber’s Financial Services Committee dealing with crypto -related subjects. Another element of legislation debated on Wednesday was that which would form an intergovernmental group of law enforcement organizations to combat the use of illicit cryptography and another which would prohibit the digital currency of the central bank issued by the United States (CBDC). The legislators also voted on dozens of modifications to the bill on stables before voting to advance the bill itself, which prompted the representative Lynch to joke that the panel may have set a record for the most failed consecutive votes.
The intergovernmental bill, the Financial Technology Protection Act, adopted with unanimous support, 49-0. The anti-CBDC bill was adopted with 27 votes, 22 legislators voting against.
Although the legislators initially had problems with their electronic voting system, they started spending time after starting the votes around 10:30 p.m. he – almost 12.5 hours after the start of markup. Vote on the five bills wrapped at 11:15 p.m. HE.
While the Stable Bill continues to move forward, Trump is also ready to sign the first pro-Crypto action in Congress: a resolution which erases an internal income service rule which targeted decentralized financing operations (DEFI). The president should sign the resolution, although he has not announced a calendar to do so.
Update (March 3, 2025, 01:15 UTC): Add voting totals.
