The US House Financial Services Committee has passed the STABLE Act, a bill aimed at establishing a regulatory framework for stablecoins, with a vote of 32-17 on April 2. This legislation focuses on payment stablecoins, which are crypto tokens pegged to traditional currencies like the US dollar. It seeks to mandate that issuers provide transparency regarding their operations and how they back their tokens with reserves. This move is part of broader regulatory discussions, with other bills such as the GENIUS Act also under consideration in Congress, which addresses oversight and reserve requirements for stablecoin issuers. The STABLE Act will now proceed to the House floor for a full vote, as stakeholders continue to navigate the evolving landscape of cryptocurrencies.

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