Will the House defy President Trump’s call for a quick stablecoin bill approval? As the debate heats up, key differences between the Senate’s GENIUS Act and the House’s STABLE Act could delay crypto regulation.
Why is the stablecoin bill facing delays?
House Financial Services Chair French Hill has signaled that more discussions are needed before passing the Senate-approved GENIUS Act. Key sticking points include:
- Oversight roles for regulators
- Extraterritorial application of the rules
- Corporate stablecoin issuance policies
GENIUS Act vs. STABLE Act: Key differences
| Issue | GENIUS Act | STABLE Act |
|---|---|---|
| Primary Regulator | Federal Reserve | Multiple agencies |
| Corporate Issuance | Allowed with conditions | More restrictive |
| International Reach | Limited extraterritoriality | Broader application |
What’s next for crypto regulation?
Lawmakers are considering combining the stablecoin bill with broader crypto legislation, potentially creating a more comprehensive framework. The outcome could shape the future of digital assets in America.
Frequently Asked Questions
What is the GENIUS Act?
The GENIUS Act is the Senate’s proposed legislation for stablecoin regulation, focusing on creating federal oversight standards.
How does the STABLE Act differ?
The House’s STABLE Act proposes stricter regulations, particularly regarding corporate stablecoin issuers and regulatory jurisdiction.
When might the bill pass?
While President Trump urged passage by August, House leaders suggest the process may extend into fall as they work through differences.
Could this delay hurt crypto markets?
Prolonged uncertainty might create volatility, but a well-considered framework could ultimately benefit the crypto ecosystem.
