U.S. Nears Landmark Crypto Regulation as Stablecoin Bill Advances

Washington appears poised to enact its first major cryptocurrency legislation following bullish signals from policymakers. David Sacks, a prominent figure in digital asset circles, revealed the Stablecoin bill has entered its final legislative stages during a Bloomberg interview. The House-approved legislation now awaits Senate reconciliation before potential presidential approval.

Political winds favor swift adoption. The Senate's 68-30 passage of the GENIUS Act demonstrates rare bipartisan consensus on crypto policy. Former President Trump's endorsement adds momentum, with his characterization of the bill as America's ticket to digital asset dominance resonating across party lines.

Regulatory clarity approaches after years of industry limbo. Market participants anticipate the legislation will establish definitive rules for dollar-pegged cryptocurrencies, potentially unlocking institutional participation. Sacks cautioned against combining the stablecoin measure with broader market structure reforms, warning such packaging could derail the current progress.