On June 17, the US Senate passed a decree on regulating the circulation of stablecoins, designed to strengthen the position of American companies in the cryptocurrency market.
The bill, authored by Sen. Bill Hagerty, passed in just six weeks. In the final vote on Tuesday, 68 lawmakers supported the measure and only 30 opposed it.
This law will bring the United States one step closer to becoming a global cryptocurrency market leader. Once the order is in effect, all businesses and individuals will be able to make payments almost instantly instead of waiting days or even weeks for transactions to be completed, Hagerty said.
Bill Hagerty
The regulation has been referred to the House of Representatives for consideration, so the fate of the document has not yet been determined. It is likely that members of the lower house of Congress will propose amendments, and the final version of the law will differ from the current one, but the changes are unlikely to be significant.
If the decree created by Hagerty is adopted, the popularity of cryptocurrencies with a stable rate will increase significantly in the United States. Due to the clear legislative framework regulating the use of these digital assets, many companies will be interested in stablecoins and issue their own coins, and the amount of transactions made in stablecoins could reach $3,7 trillion by the end of the decade.
