
CryptoPotato
2025/04/04 03:05
US House Passes STABLE Act for Stablecoin Regulation
On April 2, the US House Financial Services Committee passed the STABLE Act, which now needs to pass a full House vote and then a Senate vote in its next stages of approval into law.
The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act was passed with a 32 to 17 vote.
The legislation, formally titled the “Stablecoin Tethering and Bank Licensing Enforcement” Act, was introduced in 2020 and failed to pass . It originally aimed to regulate stablecoin issuers by requiring them to obtain banking charters and follow traditional banking regulations.
The current STABLE Act, introduced again in its amended form in March, differs slightly from a similar bill introduced in 2023.
It gives the Office of the Comptroller of the Currency (OCC) “the authority to approve and supervise federally qualified nonbank payment stablecoin issuers,” according to Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chair Bryan Steil.
“The STABLE Act protects consumers while cementing the US Dollar as the world’s reserve currency and promoting the next generation of Web3 businesses here in the United States,” said Steil.
“I am happy to support the STABLE Act and continue the House Committee on Financial Services’ work to advance stablecoin regulation that protects a robust state pathway,” said Republican Representative Mike Flood.
“Stablecoins can not only help Americans grow their wealth but also promote U.S. values and leadership both here at home and around the world,” added California Representative Young Kim.
Meanwhile, Congressman Dan Meuser said the legislation will “make payments faster, cheaper, and more accessible, reducing costs to the benefit of businesses and consumers alike.”
Other stablecoin-related bills are also going through the Congressional voting process, including the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which defines reserve rules for stablecoin issuers.
The stablecoin ecosystem is currently dominated by two players: Tether, which has a 60% market share with $144 billion USDT in circulation, and Circle, with a 25% share and $60 billion USDC circulating.
USDS, formerly known as Maker’s DAI, is the third-largest stablecoin with $8 billion in circulation and a 3.4% market share.
Earlier this week, Circle filed for a long-awaited initial public offering with the US Securities and Exchange Commission.
Meanwhile, Binance has delisted several stablecoins, including USDT, DAI, and TUSD, in European markets to comply with stringent MiCA regulations.

Crypto-Worm
2025/03/14 00:00
Key Features of Elixir Network:
Validator Staking and Governance: $ELX tokens are used by validators to stake and participate in governance decisions, ensuring secure and efficient liquidity transactions within the network.
Native Currency – deUSD: Elixir introduces deUSD, a yield-generating stablecoin backed by assets like stETH and MakerDAO's USDS T-Bill protocol, offering a more efficient collateral option compared to traditional stablecoins.
Elixir Network Redefining Liquidity in DeFi’s New Era
Elixir Network (ELX) is an innovative, modular decentralized network designed to facilitate high-speed and efficient trading in the decentralized finance (DeFi) ecosystem. By enabling users to provide liquidity to order book-based exchanges without relying on centralized market makers, Elixir Network promotes a more decentralized financial landscape. This approach allows regular users, rather than just large financial institutions, to participate in liquidity provision and earn rewards.
A key innovation of Elixir Network is deUSD, a fully collateralized, yield-bearing synthetic dollar. This stable digital asset bridges the gap between traditional financial institutions and DeFi, allowing institutions to engage with decentralized finance without altering their existing asset exposure. Backed by staked Ethereum (stETH) and MakerDAO’s USDS T-Bill protocol, deUSD offers a secure and efficient channel for institutional capital to enter the DeFi space.
Elixir Network’s approach significantly enhances the accessibility and scalability of DeFi trading while maintaining decentralization. By reducing reliance on centralized market makers and introducing a robust synthetic dollar, $ELX positions itself as a pioneering force in decentralized liquidity infrastructure.
deUSD: The Native Currency of Elixir
Elixir’s deUSD is different from traditional stablecoins. Instead of being backed by a 1:1 reserve of U.S. dollars, deUSD is supported by:
● stETH, which is used in a delta-neutral trading strategy
● MakerDAO’s USDS T-Bill protocol
This structure allows deUSD to generate yield, making it a more efficient form of collateral than traditional stablecoins. It also enables institutional investors to enter DeFi without changing their existing asset exposure.