On June 10, Caixin News reported that John Thune, the majority leader of the US Senate, explicitly demanded that a significant procedural vote on stablecoin legislation be held on June 11. It is reported that this draft stablecoin legislation has drawn much attention from the cryptocurrency industry and has received support from President Trump.
This move marks a crucial step forward for the United States in the process of regulating stablecoins. Stablecoins, as an important component of the cryptocurrency field, have developed rapidly in recent years, but their regulation has remained relatively ambiguous. The holding of this procedural vote is expected to bring a clearer direction and framework for the regulation of stablecoins.
If the draft legislation goes through the subsequent process smoothly, it will establish clear rules for the US stablecoin market, including regulatory requirements for stablecoin issuers, reserve requirements, and measures in areas such as anti-money laundering and consumer protection. This is of great significance for the healthy development of the stablecoin industry and the stability of the financial market. All market participants are highly concerned about the voting result, expecting it to lay a solid legal foundation for the future development of the US stablecoin market.
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