Bo Hines Eyes Stablecoin Legislation In The Coming Weeks

Executive Director of the Presidential Working Group on Digital Assets Bo Hines has issued a timeline for stablecoin regulation in the US.

The Executive Director of the Presidential Working Group on Digital Assets Bo Hines has issued a timeline for stablecoin regulation in the US.

According to American journalist Eleanor Terrett, who was at the Digital Asset Summit 2025 in New York, Hines stated that he expects to see stablecoin legislation land on President Trump’s desk in the next two months.

At the time, the US Senate Banking Committee approved Senator Bill Hagerty’s Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act).

The bill, which has bipartisan support, is now being drafted by the House of Representatives.

Hines added that he expects the President to sign the legislation in the two-month period, and that the Administration is keen to complete legislation on digital assets before the Presidential campaign season begins.

It was recently reported that the House of Representatives will vote on a bill to regulate stablecoins in the coming weeks, setting the stage for a final vote by the President.

The integration of new technologies, like blockchain and cryptoassets, is a key focus for the Presidential Working Group on Digital Assets.

Earlier this year, the Group advised Congress on legislation for digital assets in a bid to prevent a patchwork of state-level regulations.

Specifically, the Group recommended a new federal agency to oversee crypto firms, and that the SEC’s role in registering crypto tokens should be limited.

Among the bills currently being drafted by Congress is the bipartisan GENIUS Act, which would create a new category of "digital asset bank" to be regulated by the Federal Reserve.

Another bill, being drafted by the House Agriculture Committee, would place stablecoins under the Commodity Futures Trading Commission.

Stablecoin issuers are angling for top spot in the US

Currently, several leading stablecoin issuers are vying for the attention of the U.S. government as the country prepares to regulate stablecoins in the coming months.

Earlier this year, US Treasury Secretary Scott Bessent highlighted the administration’s interest in exploring the role of stablecoins in поддержания доллара’s position as the global reserve currency.

“We will keep the U.S. the dominant reserve currency and we will use stablecoins to do that,” Bessent stated.

As the administration makes its final push to get a bill over the line, several reports have indicated that Circle’s USDC is the preferred choice of the government.

Earlier this year, the OCC announced that U.S. banks can engage in transactions with stablecoin companies, paving the way for broader participation by global institutions.