Stablecoin Legislation may Soon Reach President Trump’s Desk
Bo Hines, the executive director of the Presidential Working Group on Digital Assets, believes stablecoin legislation could be on President Donald Trump’s desk within two months. He shared this optimism at the Blockworks Digital Asset Summit 2025 in New York.
Hines, who leads the working group’s advisory council, highlighted stablecoins as a top priority for U.S. regulators. This comes just days after the White House hosted its first crypto summit. The news was reported by Eleanor Terrett via X. He spoke alongside Kyle Samani, a managing partner at Multicoin Capital. Stablecoins are cryptocurrencies tied to assets like the U.S. dollar. They are gaining traction, with Tether (USDT) leading the market.
The U.S. Senate Banking Committee recently advanced the GENIUS Act. This act aims to create a regulatory framework for stablecoins. It received bipartisan support,passing with a vote of 18-6. If enacted, it will clarify the issuance and regulation of payment stablecoins.
President Trump has shown support for crypto-related executive orders. Experts predict a regulatory framework could be in place by 2025. The GENIUS Act, which the committee approved, could be key. It seeks to establish a clear regulatory structure for stablecoins. Trump has indicated he will sign any stablecoin legislation presented to him.
While Bitcoin’s strategic reserve has grabbed attention, stablecoins are a regulatory priority. The act would provide clarity on stablecoin issuance. This move follows the White House’s first crypto summit. Hines thinks the momentum will lead to legislation soon. The act aims to regulate stablecoins effectively.
Stablecoins are seeing rapid adoption. Tether (USDT) is the market leader,followed by Circle’s USDC. Europe has also been focusing on stablecoins. Some exchanges have delisted non-compliant stablecoins due to new rules.
Hines believes the industry’s pro-crypto environment will help. The act could reach his desk soon. The act aims to establish a complete regulatory framework. It received backing from both sides of the aisle.
Stablecoins are crucial for the crypto market. They offer stability in a volatile market. The U.S. is moving quickly on this front.The act could bring much-needed clarity. It would ensure a stable financial landscape. The U.S. is not alone in this push. Europe has also taken steps. Markets in Crypto Assets rules have caused some exchanges to delist non-compliant options. The U.S. is following suit. The act aims to bring stability to the crypto market.
