On March 26, 2025, the U.S. House of Representatives publicly released a new stablecoin oversight bill, known as the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE Act), as part of a broader push for cryptocurrency regulation.

This House version, introduced by Rep. Bryan Steil and Rep. French Hill, aims to govern the issuance of dollar-denominated digital tokens and establish guidelines for issuing digital tokens tied to stable assets, primarily the U.S. dollar.

The bill seeks to align House efforts with a previously advanced Senate version, with lawmakers focusing on bridging differences between the two.

Rep. Tom Emmer noted that both bills have minor differences that can be reconciled during the legislative process.

A significant point of contention in the bills is the regulatory framework governing issuers at both state and federal levels.

Lawmakers, including Emmer and Steil, expressed optimism that the stablecoin legislation could be finalized by August 2025 during the DC Blockchain Summit.

The crypto industry has gained increased engagement with lawmakers this year, with more bipartisan initiatives emerging, including efforts to amend an IRS rule affecting decentralized finance.

Steil highlighted the current favorable political climate for crypto in Congress, noting strong bipartisan support and good relationships with Democrats.

The stablecoin regulation effort is seen as a more straightforward initiative compared to other broader crypto legislation that seeks to govern digital asset markets.

A hearing for the more complex market-structure bill is anticipated in early April 2025.

Meanwhile, the Senate is preparing to vote on a resolution to overturn the IRS's 2024 regulations on decentralized finance brokers, which has already passed both the Senate and House previously, pending a second Senate vote due to procedural rules.

The event where Steil spoke featured multiple U.S. senators and House members, illustrating the growing connection between the crypto sector and Congress.