House Passes Landmark Stablecoin Bill Paving Way for Digital Asset Regulation
The U.S. House of Representatives has passed a significant bill to establish a regulatory framework for stablecoins, sending it to President Trump for approval. This move marks a crucial development for the digital asset sector, enhancing regulatory clarity and supporting broader adoption by traditional institutions.
In a groundbreaking move, the U.S. House of Representatives approved legislation on Thursday to create a comprehensive regulatory framework for stablecoins, also known as U.S. dollar-pegged cryptocurrency tokens.
The bill, known as the Genius Act, is expected to be signed into law by President Donald Trump. Industry leaders hailed the vote as a significant stride towards regulatory clarity, which has long been sought by the digital asset industry.
The legislation positions the U.S. as a leader in the oversight of digital currencies, ensuring consumer protection, financial integrity, and strengthening the U.S. dollar's role in the global digital economy.
(With inputs from agencies.)
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