U.S. housing passes stability regulations

On April 2, the U.S. House Financial Services Committee passed the Stability Act, which now requires a House-wide vote and then a Senate vote will be held at its next stage of ratifying the law.

By 32 votes to 17 votes, a better ledger economic law (stability) bill was passed.

The legislation was officially named “Stablecoin Bondage and Bank License Enforcement” Act, introduced in 2020 and failed to pass. It was originally designed to regulate Stablecoin issuers by requiring them to obtain a bank charter and comply with traditional banking regulations.

.@financialcmte A stable bill has just been passed. Go forward at full speed. pic.twitter.com/6nzndlhqgc

-Bryan Steil (@repbryan part) April 3, 2025

Stablecoin regulations move forward

The current stability bill was reintroduced in March in the form of an amended form, slightly different from similar bills proposed in 2023.

According to Bryan Steil, chairman of the Digital Assets, Financial Technology and Artificial Intelligence Subcommittee, it has given the office of the Auditor General (OCC) of the Currency Audit Body (OCC)

“Stable bills protect consumers while consolidating the dollar as a global reserve currency and promoting the next generation of Web3 business in the United States,” Steil said.

“I’m happy to support the Stable Act and continue the work of the House Financial Services Committee to promote Stablecoin regulations that protect robust national pathways,” said Republican Representative Mike Flood.

“Stablecoins can not only help Americans grow wealth, but also promote our values ​​and leadership at home and abroad and around the world,” added Kim, a young California representative.

Meanwhile, Congressman Dan Meuser said the legislation would “make payments faster, cheaper and easier to obtain, reducing costs, and benefiting both businesses and consumers.”

The Stability Act sets a regulatory framework for payment stablecoins that will protect innovation and consumers. pic.twitter.com/bjcuxlpcnr

– Financial Services Republican Party (@financialcmte) April 2, 2025

Other bills related to StableCoin are also considering the congressional voting process, including guiding and establishing national innovation for the U.S. Stablecoins (GENIUS) Act (GENIUS) Act, which defines the reserve rules for Stablecoin issuers.

Stablecoin ecosystem prospects

The Stablecoin ecosystem is currently dominated by two players: Tether has a market share of 60%, circulation of $144 billion, circles, stakes of 25% and $60 billion.

USDS, formerly known as Maker’s Dai, is the third largest Stablecoin with a circulation of $8 billion and a market share of 3.4%.

Earlier this week, Circle applied to the SEC for a long-awaited initial public offering.

Meanwhile, in the European market, Binance will divide several stable players including USDT, DAI and TUSD to comply with strict mica regulations.