A key committee of the U.S. House of Representatives is expected to advance landmark stablecoin legislation on April 2, marking a major step forward for the cryptocurrency industry and a priority for President Donald Trump.
The push for stablecoin regulation has won support from both Republicans and key Democrats, including New York Senator Kirsten Gillibrand, and the industry’s record-breaking campaign spending has played a role in reshaping the political landscape, helping to oust opponents and elect pro-crypto lawmakers.
Arkansas Rep. French Hill, who chairs the subcommittee that oversees digital assets, touted the benefits of a well-regulated stablecoin market, arguing that such a framework would strengthen the dominance of the U.S. dollar, modernize payment systems and expand financial access without excessive government interference.
Related News
Germany Announces Sanctions Against Binance-Listed Altcoinin Company
Stablecoins, digital assets pegged to traditional currencies like the US dollar, have been touted as a way to increase financial inclusion.
Despite the growing momentum, the bill faces opposition from key Democratic lawmakers, with Representatives Maxine Waters, the top Democrat on the House Financial Services Committee, and Massachusetts Senator Elizabeth Warren expressing concerns about consumer protections.
*This is not investment advice.