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hella.base.eth
@swets
It’s almost May 2025 and stablecoins are stepping into the spotlight as a key player in the evolution of global finance. The U.S. is finally taking steps to define the future of these digital dollars with two ironically named Act’s. The GENIUS Act and the STABLE Act (we’re already off to a bad start🤨) are two precedent pieces of legislation, both slowly crawling their way through Congress. Each are promising yet expected to establish a clear and comprehensive legal framework. Most people outside ‘the swamp’ have a general understanding of how regulation floats its way through the American legal system, but not enough. 👇
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hella.base.eth
@swets
what are these two acts? The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), introduced in February 2025 by a bipartisan(ish) group of senators, is centered on federal licensing for stablecoin issuers. Key provisions include: • Federal licensing for stablecoin issuers • Requirement for full backing by U.S. dollars or U.S. Treasuries • Mandates for regular audits, Anti-Money Laundering (AML) compliance, and public reserve disclosures This bill has already passed out of the Senate Banking Committee with strong bipartisan support, securing an 18–6 vote. On the other side, the STABLE Act (Stablecoin Transparency and Accountability for a Better Ledger Economy) has passed the House Financial Services Committee with a 32–17 vote. Time will look back on this moment. Nothing groundbreaking, but a precedent nonetheless.
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