The United States is currently preferring a Stabon -based bill as part of a broader effort to establish a comprehensive regulatory framework for the crypto industry. Known for national innovation and establishment for the American Stable Queens (Genius) Act, the proposed legislative stabbing – tries to introduce clear guidelines for the issuance and management of cryptocurrency, which is a reserve -based reserve -based reserve -based reserve cost. Recently, Senator Elizabeth Warren emphasized the need for private companies to prevent stubborn rules to prevent the US dollar from making their own version.
Earlier this week, the bill was approved by the House Financial Services Committee, and presented it in the House of Senate for final approval. The Crypto Industry praised the development, calling it a milestone for the identity of the sector.
Paul Atkins, chief of the SEC’s Crypto Task Force, has strongly supported the Genois Bill. “We now expect it to be passing,” Atkins said in an interview to the CNBC.
As the speed is developed around the Genees Act, let’s take a keen look at what this proposed legislation can mean for the future of the Stubanic Sector.
Genius Bill: Key Details
The Jeanis Bill was first introduced to US lawmakers in February this year. Senate Banking Committee Chairman Tim Scott is among the four sponsors of the proposed rules.
Presenting the ambitions of this legislation, its sponsors said that these rules would set a clear protocol to guide the issuance of Establishment in the United States. Institutions like Meta, who can find licenses to issue stabbuts, have to comply with these mandates.
The rules will explain the reserve requirements for current and potential stubborn issues, while governments will also set up governments on monitoring, examinations and implementation of stabilizing businesses.
The large -scale stabbing of $ 10 billion worth of token or banking firms is proposed to be under the strict supervision of the Federal Reserve (for banks). Meanwhile, if the bill is approved by the Senate in a process, large -scale non -bank companies will be monitored by the Kamalar office of the currency.
The states may have the right to organize individuals individually small stabbators.
According to Senator Bill Hughes, “the previous administration’s enmity with crypto and refusal to provide clear regulatory guidelines has severely stopped the Stable Queen Innovation.” He believes that this legislation can save a strong state path for the launch of the Stable Quinn.
The US House Financial Services Committee passed the Establishment Bill in April.
Stabonic Hype
The United States is one of many countries that are now looking at Stabon as a blockchain solution for quick, safe and cross -border crossing.
The head of the US Senate banking committee, Scott, has seen Stubbank as an important development in the financial sector.
“Stables enable faster, cheap and competitive transactions in our digital world and provide ease of payments from across the border to some extent,” he said. “From increasing transaction performance to US Treasury driving demand, the potential benefits of strong stabilic innovation are high.”
US President Donald Trump himself is also part of the issuance of USD1 Stable Coin, which supports the capacity of the sector.
Although the Establishment Bill is still making its way through the legislative process in the United States, Hong Kong passed its own Stabon Bill on May 21, which is about to be implemented within this year.
Traditional fantasy giants such as visas, mastercards, and PayPal are also looking for service offers for stable queens.
In Blockchain Majers, Polygon plans to focus on its stable plans this year due to “growing institutional demands”.
A recent report by Standard Chartered estimates that the size of the Stabon market may increase by 10 times over the next three years.
