Stablecoin Bill Set to Advance in Senate After Trump Push
Dollar-backed stablecoins distributed by the biggest issuers Tether and Circle are already used in billions of dollars of transactions a day.
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The Senate Banking Committee will vote Thursday on a bipartisan deal to regulate stablecoins as House Republicans push for quick action on their own bill.
Committee Chair Tim Scott announced a revised proposal late Monday that he said had been negotiated with stakeholders in the industry and “will protect consumers and expand financial inclusion for Americans across the country.”