Stablecoin Bill Advances with Committee Approval

STABLE Act Gains Approval from U.S. Financial Services Committee

• The STABLE Act was approved by the U.S. Financial Services Committee with a vote of 32-17.
• The legislation aims to regulate dollar-backed stablecoins, ensuring transparency and accountability.
• Democrats, including Maxine Waters, oppose the bill due to concerns about potential market advantages.
• The bill was introduced by French Hill and Brian Steil in February 2025.
• Tether contributed to drafting the bill, known for its USDT stablecoin.

The STABLE Act, which seeks to regulate stablecoin issuance, passed the U.S. Financial Services Committee with a vote of 32-17 despite opposition from some Democrats like Maxine Waters.