US Stablecoin Bill Committee Passed

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ODAILY
04-03
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Planet Daily News: After 10 hours of debate, the U.S. House Financial Services Committee passed the Stable Act, which will establish a strict regulatory framework for payment stablecoins, requiring issuers to obtain federal or state approval and back them 1:1 with high-liquidity assets. Democratic lawmakers strongly criticized the Trump family's recently announced World Liberty Financial project plan to issue USD1 stablecoin, with Representative Maxine Waters calling it a "clear display of greed and corruption" and questioning whether the president's push to relax crypto regulation while being involved in the industry constitutes a conflict of interest. Despite ongoing controversy, the bill was supported by 6 Democratic lawmakers. Trump has promised to make the United States a "crypto superpower" and urged Congress to pass the Stablecoin Act and Crypto Market Structure Act before the end of the year. The first hearing for the Market Structure Act is scheduled for April 9. (DLnews)

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