Hong Kong's legislature passed a stablecoin bill on Wednesday that establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong, providing regulatory clarity for upcoming stablecoin issuers.

Asset manager Bitwise says the US stablecoin bill could be bigger than Bitcoin ETFs, and may spark a multi-year crypto bull run.

A battle has erupted within the Senate Democratic Conference over a bipartisan bill that would pave the way for broader commercial acceptance of cryptocurrency assets known as stablecoins, which

The Stablecoin Bill has cleared Hong Kong’s Legislative Council, setting a legal foundation for fiat-backed stablecoin issuance and strengthening the region's push to lead in global Web3 development.

Sen. Warren, the ranking member of the Banking Committee, is on the opposing side of the so-called GENIUS Act.

The U.S. Senate is poised to try another high-stakes procedural vote to push stablecoin legislation forward, which could mark a major win for the crypto sector.

Kevin O’Leary criticized Senator Elizabeth Warren for politicizing the stablecoin bill, warning of potential negative consequences for the U.S. in global finance. The GENIUS Act, aimed at regulating stablecoins, faced initial hurdles but is now progressing in the Senate.