Stablecoin Bill could reach Trump's desk within two months, Bo Hines said

According to Bo Hines, the presidential working group in the digital asset market, Stablecoins regulations in the US can reach President Donald Trump's desk in two months.

In a speech at Blockworks' Digital Asset Summit, Hines said the markets are not fully aware of how Stablecoins laws will benefit the US economy and the control of the dollar.

Furthermore, he believes that regulating stubcoins could potentially change the course of financial markets for the rest of the history.

Hines has been added:

“This is going to be a massive law. It really drives the US forward, and that's what we're really looking forward to.”

Senate Banking Committee Stablecoin Regulation Bill has been passed The genius will act from 18-6 votes on March 13th. There is bipartisan support for the approval and is currently clearing the bill for a full Senate vote.

The bill proposes regulatory guidelines for the issuance of fixed coins and monitoring in the US, including 1:1 support for these tokens that must be maintained on US dollars, insured bank deposits, and short-term Treasury bills.

Hines highlighted a bipartisan effort to approve the bill, saying there are not many issues in the DC that allow both parties to come together to push the US even more comprehensively.

Sustainable Changes

Hines said the presidential working group on digital assets has made “risky” progress in the past eight weeks in providing Trump's promises related to crypto.

Trump created the group through an executive order Signed on January 23rd. Its responsibility is to create a regulatory framework that clearly supports crypto innovation.

Hines shared that the group has landmarks. The “30-day landmark” consisted of regulators sending reports on rulemaking measures related to digital assets.

The “60-day landmark” achieved on March 24th will consist of regulatory recommendations for the group. This is followed by a “120-Day Landmark.” This consists of all reports that actors from all institutions do, as well as what they can do to remove barriers to institutional adoption and ensure innovation.

Hines also emphasized that regulators have the autonomy to act independently without constantly needing an executive order to carry out advances in cryptographic regulation. He further emphasized that the group's role would ensure “everyone sings from the same sheet of music.”

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