The U.S. House of Representatives has released a new stablecoin oversight bill. This comes as lawmakers in Congress focus more on crypto regulation. The new bill follows recent progress in the Senate, where a similar version already passed through committee with bipartisan support. The goal is to regulate dollar-backed digital tokens, often called stablecoins, and make sure companies follow clear rules when issuing them.
Representative Bryan Steil and Representative French Hill introduced the House bill. Both lawmakers play leading roles in shaping digital asset policy. They said this version of the stablecoin legislation helps bridge the gap between the House and Senate efforts. The bill is called the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, or STABLE Act. According to Hill, the bill continues the work that began during the last session of Congress.
Stablecoins are a type of cryptocurrency tied to the value of a stable asset like the U.S. dollar. People use them for trading, savings, and moving money quickly across borders. Because they are digital and move fast, they have drawn attention from lawmakers and regulators. Many in Congress want clear rules on how companies can create and manage these tokens. The STABLE Act is meant to fill that need.
The Senate Banking Committee has already moved its version of the stablecoin bill forward. It will now go to the full Senate for a vote. Lawmakers from both parties supported the Senate bill, which means it has a good chance of passing. The House version has some small differences, but leaders believe they can work out those issues.
Rep. Tom Emmer also reintroduced his Securities Clarity Act on the same day. He is the House Majority Whip and one of the top crypto advocates in Congress. His bill aims to explain when a crypto asset is a security and when it is not. The goal is to reduce confusion for developers and investors. Emmer teamed up with Democratic Rep. Darren Soto to bring the bill back. Their work was also part of the larger Financial Innovation and Technology for the 21st Century Act, or FIT 21.
Many lawmakers involved in crypto efforts appeared at the DC Blockchain Summit, a major policy event hosted by the Digital Chamber. The summit brought together members of Congress, regulators, and industry leaders. They spoke about the future of crypto in the U.S. and shared their hopes that the stablecoin bill will become law by August.
The U.S. Congress is not only working on stablecoins. Lawmakers also revisited a vote on an IRS rule that affects decentralized finance, or DeFi. The IRS created a rule in 2024 to classify certain DeFi platforms as brokers. This would require them to collect and report user information, similar to how banks operate. Many in the crypto community oppose the rule. They argue that it doesn’t fit how DeFi works, since these platforms are often automated and don’t have a central company running them.
To challenge the IRS rule, Congress used the Congressional Review Act. This lets them overturn new federal regulations. The Senate had already passed a resolution to stop the IRS rule. But because of a rule that the House must vote first on tax issues, the Senate had to vote again. The second vote passed with strong support: 70 Senators voted yes, and 28 voted no.
Amanda Tuminelli from the DeFi Education Fund praised the Senate vote. She said it showed that lawmakers understand the damage the IRS rule could cause. She believes the rule was misguided and would hurt innovation in the U.S. crypto space. Many in the industry share this view and see the Senate vote as a win for decentralized finance.
These efforts show that crypto is becoming a larger part of national policy. Congress is now working on laws that could shape the future of digital assets. The stablecoin oversight bill, the Securities Clarity Act, and the IRS DeFi rule are all part of this push. Lawmakers want to protect consumers and markets while also allowing new technology to grow.
If passed, the STABLE Act will set rules for companies that issue dollar-denominated digital tokens. It may require firms to hold reserves, follow transparency standards, and be supervised by regulators. This would help reduce the risks tied to stablecoins and improve trust in digital assets. The bill also aims to prevent another situation like the collapse of TerraUSD, an algorithmic stablecoin that failed in 2022 and caused losses for many users.
The Securities Clarity Act would help decide when a crypto asset falls under U.S. securities laws. Right now, the SEC and other agencies don’t always agree, and this creates confusion. Emmer’s bill wants to define the difference between a security and a digital commodity, especially when it comes to tokens used in decentralized networks. This could help both developers and users understand their rights and obligations.
Crypto supporters in Congress hope these laws will give the U.S. a better legal foundation for digital assets. Many say the country is falling behind other regions like the European Union, which already has a full crypto framework. With the stablecoin legislation and other bills moving forward, the U.S. may soon catch up.
Capitol Hill has become the center of crypto policy activity. Lawmakers from both parties are working together more often on these issues. While there are still differences between bills, the general direction is clear: more clarity, stronger oversight, and support for innovation. The growing number of crypto-focused bills shows that Congress is taking digital assets seriously.
Stablecoins, securities law, and DeFi tax rules are now front and center. These topics affect how people use crypto, how companies grow, and how safe the system is. As lawmakers continue to work on these bills, many in the crypto space are watching closely. The choices made in Congress now could shape the future of crypto in the U.S. for years to come.