The Pressure Campaign is using the White House in the US Congress to make the country stable currency laws this year.
The plan was quickly approved by lawmakers; I’m at President Donald Trump’s desk Be sure to get it within two months. It creates a kind of struggle between the Senate and the House of Representatives, each of which produces a process of law in progress of its own.
The first project is Genius Law (establishment of orientation laws and national innovation in stable coins). In the Senate next month.
Genius aims to define stub coins and define them As a digital asset linked to fixed monetary value It also requires emitters to comply with the laws against money laundering.
As reported by Cryptonoticias, the proposal presented by Republican Sen. Bill Hagerty was approved by the Senate Banking Committee on March 13th. Voting 18-6.
The bill has support from Senators Tim Scott, Cynthia Ramis and Kirsten Gillibrand. He is ready to move on to the Senate plenary session. In this example, John Tune, the leader of the Republican majority, is expected. I present an argument This April.
However, this project can be sent to Donald Trump’s office for signing and subsequent promulgation. You need to check the House of Representatives.
There, but legislators are also dealing with another regulatory proposal for stable ones: stable (Stability Transparency and Liability Act for a Better Economy).
The draft of the project was announced by the president of the French House of Representatives Financial Services Committee, along with the president of Brian Steele, the Digital Assets Subcommittee.
Discussion of this proposal in the Financial Services Commission Scheduled for April 2nd. The regulations also focus on providing regulatory routes at the federal and state levels for issuing this type of currency, providing clarity to stubcoin issuers.
Will the two proposals merge?
Given that the existence of two projects is regulated, the role of the House of Representatives is I will solve the difference Between genius law and stable law.
To do this review, something known as the “Conference Committee” is activated. This is a group of highly ranked MPs of both cameras designated by the council Resolving disagreements about the bill.
The committee is working to adjust the differences and agree to the final version. Start the operation Once they are approved Bills for conflict are both in the Senate and the House of Representatives.
However, the revitalization of the conference committee clearly appears to be the White House. I want to avoid itaccording to cryptocurrency specialist Eleanor Terrett, from her breaking news. American underground.
«The White House hopes that a version of the Senate bill will gain sufficient support, It will become law in the current form«, he says he takes into account statements from his sources in Congress.
If Genius wins 70 votes, there is a lot of pressure to let the camera approve it as is and stop the project. That pressure is already rising. And while that increases, it is still unclear whether the Chamber of Commerce will accept its own version of the bill and accept its Senate.
In any case, both stable and genius law represent two-headed and bipartisan cooperation aimed at positioning the United States as a global leader in the development of financial technology.
As the spokesman explains, the regulations included in both proposals coincide with almost 80%. In this way, they share a common purpose.
- Create a framework that enables innovation without compromising the security of your financial system.
- Make sure the US is leading the development of digital finance and strengthening its dollar position as a reserve currency.
- Provides consumers with transparency and guarantees regarding the issuance, reimbursement and reserves of Stablecoins.
Among the main differences, the Genius Act grants the office of the Director General of the Currency Direct Authority regarding the Federal Level stubcoin issuer. The stable legislation focuses on establishing an innovative framework that will encourage the adoption of stubcoins and integration into the economy.
In this regard, Senator Ramis has written publications on the X account, and is in favor of the genius.
At this point, a representative of Steil, a proponent of stable law, said they were in a position to act quickly in the room.
And while the Senate and House of Representatives advance in the course of discussions on two projects, lawmakers They avoided talking The media about the possibility of progress and the possibility of approval. They focus on the ultimate goal being for the United States to have stubcoin laws.
“President Trump prioritizes this usefulness while working to approve stable currency and market structure laws,” Steil concluded.
(Tattentranslate) Donald Trump
