The bill “Stablecoin Transparency and Accountability for a Better Ledger Economy” (STABLE) has received support from the U.S. House Committee on Financial Services. The next step will be a vote in the House of Representatives.
This is reported by Finway
The decisive moment occurred during the vote, where 32 committee members supported the bill, while 17 voted against it. Among the opponents was Maxine Waters, who expressed concerns that President Donald Trump could use this law to promote the USD1 stablecoin associated with World Liberty Financial.
“With this stablecoin bill, the Committee is creating an unacceptable and dangerous precedent, justifying the President and his associates’ efforts to write the rules of the road that will allow them to enrich themselves at the expense of everyone else,” she stated.
The STABLE bill was introduced in early February 2025 by Committee Chair French Hill and Subcommittee Chair for Digital Assets Brian Stile. It is known that Tether, the issuer of USDT, was involved in its development. This bill, along with GENIUS, regulates the issuance and circulation of dollar stablecoins, establishing disclosure and reserve audit requirements for the companies that issue them.
It is important to note that there are several differences between the STABLE and GENIUS bills. For example, STABLE allows foreign issuers to promote their stablecoins in the U.S., but after a certain period, they must register. In contrast, GENIUS prohibits such practices but allows the circulation of stablecoins on the secondary market. Political analysts believe these bills are complementary.