U.S. Senator Bill Hagerty to introduce stablecoin bill

Senator Bill Hagerty is expected to introduce a new Stablecoin bill, because the largely friendly Crypto republican party requires additional regulatory clarity for industry.

The bill nicknamed “to guide and establish national innovation for American stables” or the Act on Engineering, describes a regulatory environment for the market for rapidly expanding stablescoin in the United States. Tether’s (USDT) and the circle (USDC) are currently the two main stablescoins by market share.

Hagerty confirmed the introduction of the bill via a post on X. Bloomberg reported on development earlier during the day. The legislator note::

“Today, I present the law on engineering with senator Tim Scott, Senator Gillibrand and Senator Lummis, a bill that establishes a clear regulatory framework for Stablecoins.”

The StableCoin bill comes a few months after Hagerty unveiled a bill on the subject in October 2024. This effort aligned with similar proposals thrusts to the House of Representatives, including the projects of the former President of the Chamber’s Financial Services Committee, Patrick MCHENRY and the member of the classification committee, the representative Maxine Maxine Eaux.

The Act on Engineering is co -produced by Senator Kirsten Gillibrand, Senator Tim Scott and Senator Cynthia Lummis.

Lummis is a Capitol Hill Cryptol Cryptolian lawyer and recently became The Senate banks’ subcommittee on the first president of digital assets. The Wyoming Senator Pro-Crypto voice included the push of a bitcoin (BTC) Strategic reserve.

President Trump has signed an executive decree which supports the creation of storage of American strategic digital assets. The OE has also described the creation of a cryptographic working group, the expected tasks, including on regulatory clarity. Stablecoins are an important part of this framework.

More specifically, the law on engineering aims to establish a regulatory framework which positions the United States as the “cryptographic capital of the world”. Among its main provisions are a requirement according to which all the stables are supported by US cash tickets, US dollars and the federal reserve tickets.

The bill will force issuers to support all the stablecoins issued with cash, US dollars and federal reserve tickets. Emitters will also have to undertake and publish monthly audit reports.

Hagerty said he will work with the president of the House French Hill of the US Financial Services Committee to bring the bill to the office of President Trump.