The US Senate Committee advanced the STABLE Act bill with 32 votes in favor out of 49.
The bill aims to bring clear regulatory policies for stablecoins and received support despite potential challenges from Donald Trump's involvement in the crypto industry.
The STABLE Act bill focuses on creating a regulatory framework for dollar-denominated stablecoins, and the passage of the bill is seen as a significant step forward in regulating the broader crypto industry.
The next step for lawmakers is to propose a clear regulatory framework for the broader crypto industry, ensuring the US remains competitive in the global crypto adoption.