$USDC Senate Moves Forward with Stablecoin Bill

On February 4, Senator Bill Hagerty (R-TN) introduced a bill aimed at maintaining U.S. competitiveness in the global financial landscape. He emphasized the urgency of modernizing payment systems, stating that the U.S. “cannot be left behind” as other nations advance their frameworks.

Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) also supported the bill, which passed a committee vote with bipartisan approval (18-6). It now proceeds to the Senate floor for a full vote. If passed, the bill will be sent to President Donald Trump for signing, potentially establishing the first U.S. regulatory framework specifically for stablecoins