US House Panel Advances Controversial Stablecoin Bill
The Essentials at a Glance
- The U.S. House of Representatives has passed the STABLE Act – a bill aimed at regulating stablecoins.
- The goal is to enhance transparency and accountability in the stablecoin market.
- The bill is politically controversial, particularly due to potential connections to Donald Trump.
- Regulatory approaches in the U.S. differ significantly from those in the EU and the United Kingdom.
What is Behind the STABLE Act?
On April 2, 2025, the Financial Services Committee of the U.S. House of Representatives passed the so-called STABLE Act by a vote of 32 to 17. The acronym stands for “Stablecoin Transparency and Accountability for a Better Ledger Economy.” The aim of the bill is to establish clear rules for the issuance and management of stablecoins.
Stablecoins are cryptocurrencies whose value is pegged to a stable currency such as the U.S. dollar. They are designed to avoid price volatility and are often used for payments or as an intermediary currency in crypto transactions.
Who is Behind the Bill?
The STABLE Act was introduced by French Hill, Chair of the Financial Services Committee, and Bryan Steil, Chair of the Subcommittee on Digital Assets. The bill is supported by companies including Tether, the world’s largest issuer of stablecoins. Tether sees the legislation as a step toward global acceptance of digital assets.
Political Controversy Surrounding the STABLE Act
Not all lawmakers support the bill. Maxine Waters, the leading Democrat on the Financial Services Committee, sharply criticized the STABLE Act. She accused the Republican majority of using the bill to advance the interests of former President Donald Trump and his allies. Waters views this as a dangerous precedent that could open the door to political interference in financial regulation.
What Happens Next?
Following approval by the committee, the STABLE Act must now be voted on by the full House of Representatives. At the same time, the U.S. Senate is working on its own regulations for stablecoins. Ultimately, both chambers will need to agree on a unified version. Key points of contention include the jurisdiction of federal versus state authorities and regulations for foreign issuers like Tether.
Differences Compared to the EU and the United Kingdom
While the U.S. is still working toward a unified approach, the European Union and the United Kingdom have already taken concrete steps. In 2023, the EU passed the MiCAR regulation (Markets in Crypto-Assets Regulation), which establishes uniform rules for handling digital assets, including stablecoins.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Retro Slots – The Best Slot Games With Retro Look at a Glance
Reading time: ~ 3 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
The United Kingdom has also developed a regulatory framework through the Financial Conduct Authority (FCA) and the Treasury. A consultation on requirements for the backing and redemption of stablecoins is planned for 2024.
Tether’s Vision
Paolo Ardoino, CEO of Tether, speaks of a “stablecoin multiverse.” He sees stablecoins as a key element in the future of the financial system. According to Ardoino, both private companies and government institutions could increasingly use stablecoins in the future – for payments, settlements, or liquidity management.
Our Assessment
The committee’s approval of the STABLE Act is a significant step toward regulating digital currencies in the U.S. For you as a user or investor, this potentially means greater security and clarity when dealing with stablecoins. However, it remains to be seen how the political debate around the bill will unfold. A comparison with the EU shows that international standards are still lacking. Anyone involved in the crypto space should continue to closely monitor regulatory developments. Stablecoins could play a central role in digital payments in the future – provided that the legal framework is sound.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency