US Official: "<i>STABLE Act</i>" is Closely Aligned with Senate's "<i>GENIUS Act</i>", with Only 20% Text Differential

BlockBeats News, April 1st, Cryptocurrency journalist Eleanor Terrett wrote, "Chair of the U.S. House Digital Asset Subcommittee Bryan Steil told me that, following Wednesday's hearing, the 'STABLE Act' will 'align very nicely with the Senate's 'GENIUS Act' after several rounds of 'draft revisions' between the House and Senate and technical assistance from the SEC and CFTC."

Bryan Steil believes that the bill has a 20% difference from the 'GENIUS Act,' which is merely textual and not substantial or substantive. Currently, the biggest difference between the two is in the requirements for international stablecoin issuers, state oversight of issuers, and some minor technical differences between the two texts. "Ultimately, I think everyone recognizes that we want to work with our colleagues in the Senate to move this legislation forward," Steil said.

BlockBeats Note: The 'STABLE Act' (full name 'Stablecoin Transparency and Accountability for a Better Ledger Economy Act') is a legislative proposal introduced by the U.S. House of Representatives in 2025 aimed at establishing a regulatory framework for the issuance and operation of U.S. dollar-pegged payment stablecoins.

The 'GENIUS Act' (full name 'Guiding and Establishing National Innovation for U.S. Stablecoins Act') is a legislative proposal introduced by the U.S. Senate on February 4, 2025, aimed at establishing a comprehensive regulatory framework for domestic 'payment stablecoins' to promote financial innovation, protect consumers, combat illicit financial activities, and strengthen the U.S. dollar's dominance in the global financial system.