After a long 13-hour discussion, the US House Financial Services Committee passed the STABLE Act on April 2nd. Representatives French Hill and Bryan Steil led the meeting.

The vote was 32-17, showing that both parties agree on the need for rules for stablecoins like Tether (USDT) and Circle (USDC). While not everyone agreed, this is a step toward making things clearer for these important digital currencies.

US House Committee Passes STABLE Act

The STABLE Act aims to create simple rules for stablecoin payments in the United States. Supporters say it will protect customers, help digital money grow, make payments faster in the U.S., and keep the dollar strong worldwide. It also wants the United States to be a leader in the growing digital money market.

Congressman Dan Meuser said the Act could make stablecoins like dollar-backed money, making transactions quicker, cheaper, and easier. The Republican plan will now be voted on in the House, which is an important step.

Six Democrats supported the bill, showing that both parties agree on the need to control stablecoins. Representatives Hill and Steil first presented the bill on February 6th, and reports indicate that Tether, the company that issues the biggest stablecoin, helped write it.

However, some people don’t like the STABLE Act. Representative Maxine Waters, the top Democrat on the committee, shared her worries earlier. Even though she voted against the bill, Waters said the Republicans were “setting a bad and risky example.” She worried that the bill could let former President Donald Trump use a stablecoin backed by his family for government payments, which would benefit him and his friends at the public’s expense.

Trump Hints Approval

President Trump has said that stablecoins are needed to keep the U.S. in charge financially. The STABLE Act’s approval happens when the market is shaky because of tariffs announced by the Trump administration, making it even more important to have clear rules for digital money.

Also, regular banks are paying more attention to the stablecoin market. Bank of America is thinking about creating its own stablecoin, like Standard Chartered, PayPal, and Revolut. Recently, Custodia Bank and Vantage Bank together launched Avit, the first stablecoin from a U.S. bank that uses a public blockchain, using Ethereum for transfers.