Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»US Senator Introduces Bipartisan Stablecoin Bill to Establish Regulatory Framework
ADOPTION NEWS

US Senator Introduces Bipartisan Stablecoin Bill to Establish Regulatory Framework

By Crypto FlexsApril 18, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
US Senator Introduces Bipartisan Stablecoin Bill to Establish Regulatory Framework
Share
Facebook Twitter LinkedIn Pinterest Email





U.S. Senators Kirsten Gillibrand and Cynthia Lummis have introduced the Lummis-Gillibrand Payments Stablecoins Act, landmark bipartisan legislation that seeks to establish a regulatory framework for payments stablecoins. The bill aims to protect consumers, promote responsible innovation and crack down on money laundering and illicit finance.

The bill, which senators have been working on for months, would ban “unsecured algorithmic stablecoins” and mandate one-to-one reserves for issuers. It also aims to create a state and federal regulatory framework for stablecoin companies and prevent illegal use of stablecoins.

Senator Gillibrand emphasized the importance of passing a regulatory framework for stablecoins to maintain the dominance of the U.S. dollar, promote responsible innovation, and protect consumers. She expressed confidence that the bill, developed in close collaboration with relevant federal and state agencies, will gain the necessary support in the Senate and House of Representatives.

The bill includes a provision that would allow state non-depository trust companies to issue up to $10 billion in payments stablecoins. Approved entities can issue stablecoins “up to a maximum amount” under their limited-purpose state charter. The bill also highlights the need for proper custody practices for stablecoin issuers, citing the recent FTX incident as an example.

This is not the first time Senators Lummis and Gillibrand have collaborated on legislation focused on cryptocurrency. In the past, we have worked together to introduce legislation that would clarify the roles of regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission in regulating digital assets.

The introduction of this stablecoin bill comes amid ongoing concerns from lawmakers and industry leaders about establishing guardrails for stablecoin issuers in the United States. A similar bill, the Clarity for Payment Stablecoins Act, has advanced in the House of Representatives but has yet to see much movement. Senator Sherrod Brown, chairman of the Senate Banking Committee, has expressed interest in addressing stablecoin regulation this legislative session.

The Lummis-Gillibrand Payment Stablecoin Act represents an important step toward establishing a comprehensive regulatory framework for stablecoins in the United States. As the cryptocurrency industry continues to evolve, regulatory clarity and consumer protection become increasingly important.

Image source: Shutterstock

. . .

tag


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025

AI starts a cost -effective batch API for LLM request.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025
Most Popular

Bitcoin bears face the risk of a short squeeze as the price rises above $43,000, analysts say.

December 5, 2023

How did this cryptocurrency investor grow from $3,000 to $46.3 million through PEPE?

May 15, 2024

Win over $825,000 in prizes in just one week

March 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.