US lawmakers introduce updated GENIUS Act for stablecoin regulation

The United States Senator, Bill Hagerty, presented an updated version of the Orientation and Creation of National Innovation Act for the Stablescoins American before a key vote of the Senate Bank Committee on March 13.

According to a March 10 announcementThe revised bill strengthens regulatory standards for stablecoin issuers, refining consumer protection rules, reserve requirements and surveillance.

One of the biggest changes is its more difficult position on non -American Stablecoin transmitters, imposing the founder of the web3 application, Dom Kwok, in a 11 March 11 jobDescribed as “additional standards” for reserves, liquidity and compliance controls. This decision should give American issuers like Circle and Ripple a “competitive advantage”.

However, although the central framework of the bill remains intact, issuers with more than $ 10 billion in market capitalization under monitoring of the federal reserve and allowing small issuers to remain regulated by the State – it now includes stronger application mechanisms and risk controls to ensure compliance and financial stability.

“Stablecoins allow faster, cheaper and competitive transactions and facilitate seamless cross -border payments. This legislation will guarantee that industry can innovate and develop here in the United States while promoting the global position of the US dollar. »»

Tim Scott, president of the senatorial banking committee.

The bipartite contribution played a key role in training the revised bill, legislators working alongside industry stakeholders, academics and regulators to refine its provisions, added the ad.

The senatoric banking committee should vote on the bill on March 13. If he erases the committee, he will go to a vote in the full Senate, where the legislators will debate his provisions before sending him to the House.

If the two chambers approve the legislation, she will land on the office of President Donald Trump for final approval or a veto.

As before reported By Crypto.News, Hagerty presented the Act on Engineering in February 2025. A key provision in legislation requires that US Treasury bills, US dollars or fabederal reserve tickets must completely support all stablecoins.

Meanwhile, the StableCoin market has gone from a niche sector in an industry of several billion dollars in recent years. According to a February report From our network, it now represents more than 1% of the US dollar M2 monetary mass.