U.S. Lawmakers Push for Stablecoin Regulation with New Draft Bill

U.S. lawmakers are pushing forward with new legislation aimed at regulating stablecoins.

The proposed bill, known as the Stable Act of 2025, comes from French Hill, Chair of the Financial Services Committee, and Bryan Steil, Chair of the Digital Assets Subcommittee. One of its key provisions includes a two-year suspension on stablecoins backed solely by self-issued digital assets. The bill also calls for a thorough study by the U.S. Treasury into the potential risks of stablecoin issuance and management.

This draft legislation is part of ongoing efforts to provide clearer rules for the growing stablecoin market. Hill emphasized the importance of bipartisan collaboration and public input to ensure a safe and well-regulated environment. Steil added that the bill could strengthen the U.S. dollar’s position globally while enabling innovation in the digital currency space, benefiting both consumers and investors.

Support for the bill is growing among lawmakers. Senator Tim Scott stressed that stablecoin regulation is essential for fostering U.S. innovation, and Senator Bill Hagerty highlighted the benefits of creating a secure, growth-oriented environment for crypto. Meanwhile, Senator Cynthia Lummis voiced her commitment to working across party lines to protect the U.S. financial system.

The Stable Act builds on previous initiatives like the Clarity for Payment Stablecoin Act of 2023. It introduces some changes, such as giving the Office of the Comptroller of the Currency (OCC) the power to oversee nonbank stablecoin issuers, in contrast to the earlier proposal, which involved the Federal Reserve.

With support from both the House and Senate, the bill could soon be on its way to President Trump’s desk, marking a significant step toward comprehensive digital asset regulation in the U.S.