In the US Senate, the final vote of the Stablecoin bill, which was prepared to regulate the crypto asset ecosystem, is approaching. However, French Hill, President of the Financial Services Committee of the House of Representatives, said that there are significant differences between the bills prepared by the Senate and the House of Representatives, and that the law cannot enter into force without eliminating these differences.
2 different crypto currency laws
French Hill said the two bills are largely similar, but contain differences in some ways. At the beginning of these differences, especially the House of Representatives has more strict “reciprocity” conditions for foreign stablecoin exporters. According to the bill, a stablecoin exporter established abroad must be compatible with an arrangement regime recognized by the United States in order to operate in the USA. Hill, this substance, especially in global markets, one of the leading tokens, USDT’yi Tether, such as companies such as concern, he said.
“You can be registered in the USA and you will be fully compatible in the USA, or you will be in a judicial zone recognized by the USA and you must follow a similar regime and practice”.
According to Hill, the bill of representatives offers a more “clean yol roadmap about which state or federal authority will organize its stablecoin exporters. In addition, the Assembly and the Senate are developing different approaches to the participation of non -financial organizations in the Stablecoin market. While the bill of parliament released the stablecoin extraction of some public companies under certain regulatory authorities, the Senate version completely prohibits some publicly -open companies from removing stablecoin.
“I think the Senate needs more clarity on this issue.”
Regarding the progress of the bill, Hill says that the Stablecoin regulation will be easier than Congress than other crypto law studies, contrary to its general blood.
Developments in the political and legal process
Hill said that the Senate has not been able to make progress on the stablecoin bill for a long time, but a significant way is now. It is pointed out that the latest work on the Senate on the “Guiding and Establishing National Innovation for US Stablecoins (GenIus) Act” is critical for the future of the regulation. Hill, the House of Representatives will do their part on them is optimistic, he said.
“The House of Representatives is really in the position of fulfilling the promises of President Trump.”
According to the US law -making process, bills are prepared on the same subject (2 different assemblies) Senate and the House of Representatives need to agree on the same text. If the Senate accepts the bill as it is, the Assembly will have to vote the same bill or continue its own version. If different versions are accepted, a bill united in the compromise commission for the final law will have to be re -approved.
In the voting in the Senate and the evaluations in the Banking Committee, it is reported that there are many wide supports. However, we shared that some democratic members objected to the law on the grounds that sufficient measures related to illegal activities were not taken and that the public people were not prevented from taking stablecoin. Hill admitted that President Trump’s interest in crypto projects has made legal debates more political, making it difficult to progress. There are too many times until the midterm elections in November 2026, and the Democrats may not want to stand against crypto currencies once again and lose votes after the last defeat.
In the United States, an intensive work on both wings is being carried out on the regulation of stablecoin. In the current process, it is emphasized that the designs should be compatible, the clarification of regulatory areas and the uncertainties about the role of companies should be eliminated. The size of the Stablecoin market and the potential impacts on the financial system attract the attention of regulatory institutions and legislators. If the final regulation enters into force, it is thought that the US can play a more active role in the global digital asset market.
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.
