US House Approves New Regulations for Stablecoins
(MENAFN) On Thursday, the US House of Representatives approved legislation that sets forth fresh regulations for stablecoins backed by the dollar, forwarding the measure to President Donald Trump, who is anticipated to enact it into law.
Known as the GENIUS Act, the bill received robust bipartisan endorsement, passing with a vote tally of 308-122.
Additionally, the House passed the more comprehensive CLARITY Act, which targets oversight of the broader cryptocurrency industry.
That legislation cleared the House with a 294-134 vote and now moves on to the Senate.
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