US House Financial Services Committee votes to pass stablecoin regulation bill According to The Block, the US House Financial Services Committee voted on Wednesday to pass a major bill regulating stablecoins. The bill, titled 'Stablecoins Transparency and Accountability for a Better Ledger Economy' (STABLE), was passed by the committee on Wednesday with 32 votes in favor and 17 votes against. This bill will create a framework for stablecoins denominated in US dollars. The bill stipulates reserve and capital requirements, including one-on-one reserve support and anti money laundering standards. As for the next steps, a Republican aide familiar with the bill's text stated at last week's press conference that lawmakers may now decide to push for legislation to regulate the entire cryptocurrency industry. The House Financial Services Committee plans to hold a hearing next week on a market structure bill.