U.S. Senator Hagerty introduces the "GENIUS" stablecoin bill

2025-02-05 09:32:51

Collection

ChainCatcher news, U.S. Senator Bill Hagerty has introduced a bill aimed at establishing a regulatory framework for stablecoins, bringing tokens like USDT and USDC under Federal Reserve rules.

The Tennessee Republican stated in a press release on February 4 that this stablecoin bill will create "a safe and growth-friendly regulatory framework to unleash innovation," and advance President Trump's commitment to make the U.S. "the cryptocurrency capital of the world."

Hagerty's "Guiding and Establishing the U.S. National Stablecoin Innovation (GENIUS) Act" has the support of Senators Tim Scott, Kirsten Gillibrand, and Cynthia Lummis.

Hagerty added on X that he looks forward to working with Congressman French Hill and the House Financial Services Committee to "get it to the President and signed into law."

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.

U.S. Cryptocurrency Legislation and Policy Trends

The U.S. Congress is reviewing several bills related to cryptocurrency, aimed at clarifying the legal status and regulatory framework of cryptocurrencies. Meanwhile, regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are also actively issuing guidance and regulatory measures to ensure the transparency and legality of the cryptocurrency market. This topic will track these developments.

Topic or theme