Republican Senator Bill Hagerty will submit a stablecoin regulatory framework bill

On February 4th, according to Bloomberg, Republican Senator Bill Hagerty will submit a stablecoin regulatory framework bill on Tuesday in response to the cryptocurrency industry's demand for clear regulation. The bill aims to create a predictable regulatory environment for stablecoins pegged to the US dollar and has received support from President Trump. Industry insiders believe that federal regulation will enhance the legitimacy of stablecoins and is expected to drive wider market adoption.