Despite the ongoing concerns regarding the nation’s economic reality, it has continued to embrace the digital asset sector. Indeed, a US stablecoin bill has officially moved forward in Congress, although some distinct criticism has been given regarding the legislation.

This week, the House Financial Services Committee approved H.R. 2392, otherwise known as the STABLE Act of 2025. The bill is critical to implementing regulatory standards for stablecoins that are pegged to the greenback. Moreover, the bill passed with 32 in favor and just 17 against.

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US Stablecoin Legislation Makes Another Key Step Toward Approval

Since US President Donald Trump returned to the White House, the cryptocurrency market has been a key priority for his administration. He was clear in his desire to make the United States the crypto capital of the world. Moreover, he called on Congress to work on developing a clear regulatory framework for stablecoins in the country.

That was a charge they certainly took seriously, as a US stablecoin bill has moved forward in Congress this week. Indeed, the STABLE Act of 2025 is one step closer to becoming the defining United States regulatory framework for the digital asset. However, there are some important things to know.

If the bill is signed, it will set forth clear rules for the issuing and management of US dollar-backed stablecoins. Moreover, it would include things like reserve requirements and consumer protections while ensuring that innovation in the financial sector remains a priority.

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Yet, the bill is not without its opposition. House Democrats have been critical of the bill, despite its movement forward. Specifically, Democrats had previously proposed an amendment that blocked government officials, including US President Trump, from holding a financial interest in the asset class.

That amendment was not adopted in the advancing stablecoin legislation. Moreover, it led Representative Maxine Waters to denounce the bill. “This committee is setting an unacceptable and dangerous precedent, validating the president and his insiders’ efforts to write rules of the road that will enrich themselves at the expense of everyone else,” she said.

The criticism has been shared by the representatives, including Nydia Velazquez. She noted that the stablecoin bill creates a “conflict of interest” within the Trump Administration. Still, the opposition from even more officials was not enough to curtail the bill’s advancement.