House Approves Stablecoin Bill: Regulatory Framework Takes Step Forward

The U.S. House Financial Services Committee advanced a stablecoin bill Wednesday, marking a significant step forward in the regulatory landscape for dollar-denominated digital assets. The STABLE Act, which passed with 32 votes in favor and 17 against, aims to create a framework for regulating these coins, encompassing reserve requirements and anti-money laundering measures. The bill (H.R. 2392) was approved during a committee markup session.