By Nermeen Nabil Khear 
This marks the latest push to bring order to an industry. It has become a top priority for many lawmakers, including former President Donald Trump.
As the popularity of cryptocurrencies continues to grow, establishing clear guidelines has become a must. Especially for stablecoins, which are tied to traditional assets like the dollar.
Hagerty’s Stablecoin Bill Aims for Crypto Security
Hagerty’s proposed legislation is designed to provide stability and transparency for stablecoins. They are often used for payments, investments, and transactions in the world of digital finance. By creating a legal framework, the bill will offer more security to investors and businesses.
This move comes at a critical time, as the crypto market continues to grow and gain traction in mainstream finance. With concerns about security, fraud, and the risk of volatility hanging over the industry, a regulated framework could help ease these worries.
Today, I’m introducing the GENIUS Act w/ @SenatorTimScott, @SenGillibrand, & @SenLummis, a bill that establishes a clear regulatory framework for stablecoins.
I look forward to working with @RepFrenchHill and @FinancialCmte to get it to the President’s desk and signed into law. https://t.co/8dz0HnYrLG
— Senator Bill Hagerty (@SenatorHagerty) February 4, 2025
Stablecoins are not only a priority for Hagerty but also for former President Donald Trump, who has made it clear that he believes in the potential of digital currencies to transform the financial system.
More About Crypto Regulation
David Sacks kicked off the crypto regulation press conference by directly addressing the issue of Choke Point 2.0, highlighting the tough environment crypto companies have faced. He stated, “We’re coming off four years of arbitrary prosecution and persecution of crypto companies, where the SEC wouldn’t tell founders what the rules were, but then would prosecute them.”
David Sacks starts off the crypto regulation presser by explicitly referencing Choke Point 2.0.
“We’re coming off four years of arbitrary prosecution and persecution of crypto companies, where the SEC wouldn’t tell founders what the rules were, but then would prosecute them.… pic.twitter.com/8VKh4ZRNPm
— Pirate Wires (@PirateWires) February 4, 2025
Sacks shared that many founders have confided in him about being “debanked” simply for having started a crypto company. This illustrates the intense pressure and uncertainty the industry has endured due to unclear and often inconsistent regulatory practices.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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