backIn a major step for the crypto industry, the U.S. Congress has approved the first federal law regulating stablecoins—digital tokens pegged to assets like the U.S. dollar. Backed by bipartisan support and championed by Donald Trump, the legislation introduces state or federal oversight and requires issuers to hold equivalent reserves in short-term government debt or similar instruments.
The move represents a political milestone for digital assets, aiming to modernize payments and legitimize a $265 billion market projected to reach $3.7 trillion by 2030. While critics voice concerns over consumer protection, major banks like JPMorgan and Citigroup are already preparing to adapt to the changing landscape. U.S.-based issuers such as Circle are expected to benefit most from the new rules.
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