Stablecoin bills in the US are drawing attention from institutional investors and politicians.

Recently, US Representative Bryan Steil told journalist Eleanor Terrett that the two major stablecoin bills—the STABLE Act and the GENIUS Act—have only minor differences.

A new report has highlighted the striking similarities between the two major stablecoin bills in the US—the STABLE Act and the GENIUS Act—suggesting a unified regulatory framework could be emerging.

This follows an optimistic statement from US Representative Bryan Steil.

Both bills enjoy bipartisan support, which is crucial in the often-divided US political landscape. According to NatLawReview, Senators Bill Hagerty, Tim Scott, Cynthia Lummis, and Kirsten Gillibrand are among those backing the GENIUS Act.

Meanwhile, the STABLE Act was drafted by House Financial Services Committee Chair French Hill and Representative Bryan Steil.

Despite some differences, both bills aim to establish a legal framework for issuing stablecoins under federal or state supervision. For example, the GENIUS Act requires the Treasury Department to study algorithmic stablecoins, whereas the STABLE Act imposes a two-year ban on issuing them.

If passed, these bills could reshape the future of stablecoins and accelerate crypto adoption in the US. This would benefit both investors and everyday users.

However, experts in Europe and China have expressed concerns. They worry that US lawmakers’ support for stablecoins could destabilize their financial systems.

As of this writing, the stablecoin market capitalization has surpassed $230 billion. Tether’s USDT accounts for 61%, while Circle’s USDC holds 25%.