Stablecoins were in front and center of the latter: the critical bills went through the US Congress, the first digital coin was briefly -depegged with reserve concerns, and Coinbase’s efforts to make banks saw a push from lawmakers – to name only a few recent headlines.
Dollars backed cryptocurrencies are under attention as the market considers the US dollar role and the future of US economic power under President Donald Trump’s controversial policies.
In Europe, stablecoins faced a more strict regulation regulation, with exchanges The removal of many coins that do not comply Includes markets in the regulation of crypto-assets (MICA) regulations passed by the EU in 2023.
Many things happen in the world of stablecoins as the rules are formed at a fast pace and new owners are entering the market. Here are the latest developments.
Stablecoin adoption law faces to vote in the US House of Representative
Then passing a critical vote In the US House Financial Services Committee, Stablecoin Transparency and liability for a better ledger economy, or a stable act, will soon face a vote from the entire American Legislature’s lower house.
Source: Financial GOP services
The bill provides land policies for stablecoins in payments, stablecoins are tied to US dollar provisions and disclosure for stablecoin providers. The stable act is considered in conjunction with the Genius Act, the main framework of stablecoin regulation propelled by the crypto industry.
Stablecoin regulations are viewed by many in the industry as a critical step in bringing crypto to the mainstream, but current bills face their fair part of opponents. Democratic representative Maxine Waters, who voted against stable Committee law, has criticized his colleagues all over the hallway for “setting an unacceptable and dangerous preceding” with a steady act.
Main concern of waters is the bill Verify President Trump’s newly established Stablecoin projectHe was advised in person at the expense of the American taxpayer.
FDUSD Stablecoin Degs
The first digital (fdusd) stablecoin Delegged on April 2 after the founder of the Tron Network Justin Sun announced that the one who gave, first digital, was pointless. First Digital denies the Sun’s claims, saying that they are fully united and say that FDUSD is still redeemed by the US dollar on a 1: 1 basis.
The first digital stablecoin peg wavers. Source: CoinMarketCap
“Every dollar backing FDUSD is completely safe, safe, and accounted for the US-supported bills.
First digital representatives announced that Sun’s claims were “a common Justin Sun Smear campaign to try to attack a competitor in his business.”
Trump’s WLFI launches Stablecoin
World Liberty Financial, the decentralized financial project of the Trump family, has Launched a US dollar-pegged stablecoin with a total supply of over $ 3.5 million.
According to data from Ethercan and BSCSCAN, the project released The World Liberty Financial USD (USD1) token at the BNB and Ethereum chain in early March.
The new coin was accepted by Changpeng Zhao, the former CEO of Binance. Source: Changpeng Zhao
The USD1 has drawn sharp criticism from Trump’s political opponents, such as waters, who believe that Trump aims to give the US dollar using his own stablecoin – advised himself to the process.
A group of US senators recently released a letter expressing their concerns That Trump can shape the regulation and implementation to benefit his own project at the expense of other stablecoins and the better economic health in general.
No interest for stablecoins, says Congress
Coinbase CEO Brian Armstrong want to take banks.
In a long X post on March 31, Armstrong argued that US Stablecoin holders should earn “Inchain interest” and StableCoin providers should be treated similarly to banks and “allowed, and unimaginable, share interest with consumers.”
Related: US lawmakers are advancing the Anti-CBDC bill
His proposal is facing headwind in Congress. French Hill representative, chairman of the House Financial Services Committee, has claimed Those stablecoins should not be treated as investments but rather as a pure payment vehicle.
Source: Brian Armstrong
“I don’t see the stablecoins as I see a conto bancario. I recognize Armstrong’s point of view, but I don’t believe there is a place here at home or in the Senate,” he reported.
Stablecoins faced removal in Europe
Binance, one of the largest crypto exchanges in the world, has Stopped trade dollars supported by USDT Stablecoin. Customers can still hold the USDT on their accounts and exchange them with eternal contracts.
USDT is still available to the EU for eternal trading. Source: Binance
The decision to delete Tether came as part of the broader efforts in compliance with MICA, the massive EU regulation package that passed in 2023. Other major exchanges will take similar steps. Kraken removed PayPal USD (PIUSD), USDT, EURT (EURT), Trueusd TUSD, and Terraclassicusd (UST) in the European market.
Crypto.com provided its users until the end of Q1 2025 to convert the affected tokens to the following in Mika. “If not, they will automatically convert to a following stablecoin or owner of the corresponding market value,” the exchange said.
Stablecoins see large capital flowing
Crypto Intelligence Platform Intotheblock has found an increasing amount of capital Entering tokenized real-world assets and stablecoins. According to the analytics firm, these possessions are increasingly seen as “safe havens in the current uncertain market.”
The total capitalization of the stablecoins market. Source: Intoteblock
The firm has tapped economic headwinds under the unpredictable tenure of US president Donald Trump as the main cause of capital streams.
“Many investors rely on economic tailwinds that follow Trump’s inauguration as president, but increased geopolitical tensions, tariffs and general political uncertainty make investors more careful,” he said.
Stablecoins left Japan
An increasing number of companies is looking to launch Stablecoins in Japan as the government softens its stance. The Crypto subsidiary of the Japanese Financial Conglomerate SBI Closely offered support for Circle’s USDC. SBI VC Trade said it completed an initial registration for Stablecoin Services and plans to offer cryptocurrency trading in the USDC.
Related: Japan’s financial guardian said there is no plans to classify crypto as financial products
The news came on the same day that financial service commissioner Hideki it expressed support for Stablecoin transactions in FIN/Sum 2025 event during the Japanese Fintech Week.
Japanese Financial Conglomerate Sumitomo Mitsui Financial Group (SMBC), Firm Business System Tis Inc, Avalanche Network Developer Ava Labs and Digital Asset Infrastructure Firm Fireblocks who want to commercialize stablecoins in Japan.
The companies Signed a Memorandum of Understanding To generate techniques for release and circulating dollars and yen-back stablecoins.
Total Stablecoin market. Source: Rwa.xyz
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