The United States House Financial Service Committee has approved a stable coin bill that expects to introduce transparent and clear regulations for the sector. The STABLE Act has cleared the House of Financial Service Committee with 32 members in favor and 17 opposed, the act will now move towards a full House vote. U.S. lawmakers introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act on March 26, 2025.
Stablecoin Transparency and Accountability for a Better Ledger Economy Act (STABLE ACT) To Bring Stablecoin Market Transparency!
Stablecoin Transparency and Accountability for a Better Ledger Economy Act (STABLE Act/SB 394) was introduced into the U.S. Congress on February 4, 2025. The U.S. lawmakers introduced this act, aiming to strengthen the stablecoins regulations and maintain transparency standards and clarity in the particular area. A Voting was conducted by the United States House Financial Service Committee on Wednesday, 32 members were in favor of the STABLE Act and 17 people in the committee opposed it.
The key points or important provisions in the STABLE Act are one-to-one reserve backing, Anti-Money Laundering (AML) protection, capital requirements, etc. The bill will be responsible for providing rules and compliances regarding stablecoin payments and ensuring issuers give accurate and up-to-date information about their business and the way they back their tokens with currencies like USD.
The voting for the STABLE Act proceeded even with the controversies related to Trump’s pro-crypto attitude and involvement in the stablecoin sector is unacceptable and leads to a potential conflict of interest. Democrats from the U.S. asserted that the World Liberty Financial USD1 token, a newly announced stablecoin by Trump’s family should only be given an equal position and treated like any other in the market.
Reactions of The Personnel Regarding The U.S. House Financial Service Committee’s Approval of The STABLE Act
Important personnel and prominent figures in the U.S. have come up and responded to the introduction of the STABLE Act.
Digital Assets Subcommittee Chairman Steil stated that it was the Golden Age of digital assets in America. He explained that with the STABLE Act, they would secure the future of financial payments and maintain the continued dominance of the U.S. dollar as the world’s reserve currency. He mentioned that this bill was the result of extensive collaboration with committee members, stakeholders, and the Administration. Also expressed his anticipation of passing the bill and implementing a clear regulatory structure for payment stablecoins.
House Financial Services Committee Chairman Hill stated that their STABLE Act is a strong continuation of their work on digital assets in the last Congress. He mentioned that their legislation would provide a clear regulatory structure for payment stablecoins and represent the culmination of months of work with stakeholders and members during that Congress. He and Subcommittee Chairman Steil looked forward to continuing their efforts to ensure a successful markup the following week.
Tom Emmer stated that with the STABLE Act, the United States would lead in modernizing the global financial system. He expressed that he was beyond proud to support this legislative effort and thanked Representatives Hill and Steil for their leadership.
Congressman Ritchie Torres stated that stablecoins represented the next frontier of financial technology and emphasized that the United States must lead in shaping a regulatory framework that fosters innovation while ensuring transparency and stability. He remarked that the STABLE Act was a critical step toward integrating digital assets into the financial system in a responsible way. He expressed pride in joining his colleagues to advance bipartisan legislation that strengthens U.S. leadership in the digital economy and protects consumers in the process.