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Highlights
- Bo Hines says stablecoin regulation can go live within two months.
- The most plausible regulation appears to be Senator Hagerty's GENIUS Act.
- Stablecoins are surging in popularity with the US seeking to rein in the sector.
Executive Director of the Presidential Working Group on Digital Assets Bo Hines has issued a timeline for stablecoin regulation in the US. Hines is predicting a two-month window for legislators to wrap up existing bills for final assent by the President.
Bo Hines Eyes Stablecoin Legislation In The Coming Weeks
American journalist Eleanor Terrett disclosed that Bo Hines has his eyes on May as a tentative date for stablecoin legislation in the US. Hines stated in a panel discussion that stablecoin legislation can be on President Trump’s desk within two months.
The Executive Director shared his predictions at the Digital Asset Summit 2025 in New York. Hines reiterated the government’s stance on digital currencies, particularly stablecoins while reeling out his projection for a possible rollout.
Barring any eventualities, Hines expects President Trump to sign a stablecoin regulation into law in two months. The most plausible bill is Senator Bill Hagerty’s Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act).
At the moment, the US Senate Banking Committee has approved the GENIUS Act, setting it up for a full vote on the floor of the House. Experts are tipping the bill to scale through the legislative process citing bipartisan support and the scope of its provision.
The bill will also have to pass through the House of Representatives before final assent by the US President.
Stablecoin Issuers Are Angling For Top Spot In The US
Currently, stablecoin issuers are jostling for places as the US turns its sights toward the industry. US Treasury Secretary Scott Bessent noted that the US is keen on exploring stablecoins to maintain the dollar’s position as the global reserve currency.
“We will keep the US the dominant reserve currency and use stablecoins to do that,” remarked Bessent.
Given the changing stance, experts are tapping XRP’s RLUSD to lead America’s stablecoin charge. On the other hand, Circle is positioning USDC to become the stablecoin of choice by the government. Tether CEO Paulo Ardoino has also indicated a keen interest in playing an increased role in America’s stablecoin ambition.
The OCC has since announced that US banks can dabble in stablecoin transactions as global banks launch stablecoins to get skin in the game.
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