U.S. Lawmakers Push Stablecoin Bill Toward August Approval Amid Crypto Policy Momentum

The U.S. Congress is prioritizing stablecoin regulation, with the House of Representatives unveiling its version of a stablecoin oversight bill on Wednesday. Introduced by Reps. Bryan Steil and French Hill, the bill outlines the framework for issuing dollar-backed digital tokens, aiming to align with a similar bipartisan Senate proposal.

Named the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, the legislation is designed to ensure regulatory clarity for stablecoin issuers. Rep. Steil emphasized the bill “closes the gap” between House and Senate efforts, reflecting growing momentum in Washington to advance crypto oversight.

The Senate Banking Committee has already approved its version of the bill, moving it to the Senate floor. Rep. Tom Emmer, a long-time crypto advocate and House Majority Whip, noted the two versions have “minor differences” that can be resolved as they head toward finalization. Lawmakers are aiming to pass the bill before August.

Also on Wednesday, Emmer reintroduced the Securities Clarity Act, co-sponsored by Democrat Rep. Darren Soto. This bill aims to define when a digital asset qualifies as a security, a key issue in U.S. crypto regulation. It was previously part of the broader Financial Innovation and Technology for the 21st Century Act (FIT 21).

All three lawmakers spoke at the DC Blockchain Summit, where crypto policy was front and center. The same day, the Senate also prepared for a second vote on a Congressional Review Act resolution to overturn the IRS’ 2024 DeFi broker regulation, previously passed by both chambers and expected to be signed by President Trump.

The push signals a rare bipartisan focus on crypto regulation, with stablecoins leading the agenda.