Odaily News U.S. Senator Bill Hagerty has introduced a bill that seeks to establish a regulatory framework for stablecoins, bringing tokens like USDT and USDC under Federal Reserve rules.
The Tennessee Republican said in a Feb. 4 statement that the stablecoin bill would create “a safe and pro-growth regulatory framework to unleash innovation” and advance President Trump’s pledge to make the U.S. the “cryptocurrency capital of the world.”
Hagerty’s “Guiding and Establishing a National Innovation for Stablecoins in the United States (GENIUS) Act” is supported by Senators Tim Scott, Kirsten Gillibrand, and Cynthia Lummis.
Hagerty added on X that he looks forward to working with Rep. French Hill and the House Financial Services Committee “to get it to the president and have it signed into law.”