In the US, both the Senate and the House of Representatives are working on Stablecoin regulation. The two assemblies make progress on new laws of law in order to eliminate the deficiencies in existing regulations. The White House states that it supports certain designs at certain stages of the process.
Genius Law Process
The Senate elaborates the bill called Guiding and Establishing National Innovation for Us Stablecoins. The draft aims to impose obligation to pass through both federal and state audit to the exporting institutions that export stablecoin. In addition, exporters are asked to keep their asset reserves in 1: 1.
STABLE LAW STAGES
The House of Representatives continues to work on the Stablecoin Transparency and Accountability for a Better Ledger Economy. This draft envisages the implementation of federal banking regulations while introducing reserves and audit conditions similar to those who export stablecoin. The bill is expected to be evaluated in front of the Assembly Financial Services Committee.
White House Orientation
According to the internal views, the White House has tended to in favor of the GENIUS law in the regulation. This bill, which allows small -scale exporters to operate at the state level, is thought to offer a more innovative approach. Although both bills have similar elements, method differences are remarkable.
According to official discourses, President Trump called on the Congress to accept the developing Stablecoin legislation.
President Trump called on the congress to act on this issue in the coming weeks. Executive Director Bo Hines said he expects the arrangement on the Trump table to emerge within two months.
While negotiations are continuing at different parliamentary stages in order to win both the bills of laws, a possible compromise commission may be activated. According to the expectations of the experts, if the majority of votes in the Senate are reached, the possibility of adopting the Senate bill is on the agenda.
It is observed that uncertainties continue in the process of timing and details in the process. The bills of laws are considered important in terms of creating the regulatory framework and operating within the order.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
