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US HOUSE PASSES CONTROVERSIAL STABLECOIN BILL BACKED BY TRUMP, DIVIDES DEMOCRATS
▪️The House passed the Stablecoin Innovation and Protection Act of 2025 late Thursday.
▪️The bill, supported by President Trump, aims to create a federal framework for stablecoin issuance while preserving state-level oversight.
▪️Democrats remain split over the bill’s impact on consumer protections, foreign issuers, and financial surveillance.
The U.S. House of Representatives has passed the Stablecoin Innovation and Protection Act of 2025, a landmark piece of crypto legislation backed by President Donald Trump. The legislation, which passed with significant Republican support, proposes a federal framework for stablecoin issuance and sets broad new guidelines for how both private and public entities may issue and manage digital dollar-pegged tokens.
While the bill preserves some roles for state regulators—allowing entities like Wyoming’s digital asset office to license issuers—it also gives the U.S. Treasury, Federal Reserve, and SEC more say in oversight, compliance, and financial stability risks.
President Trump called the passage a “historic win for American financial innovation”, noting that the bill will help the United States “compete with foreign stablecoins and preserve dollar dominance.”
Still, Democrats remain deeply divided. Some, including Rep. Richie Torres (D-NY), backed the legislation, arguing that clear rules would help weed out bad actors and prevent future Terra-style collapses.
Others, including Rep. Maxine Waters (D-CA), warned that the bill “guts core consumer protections” and would “allow foreign and unvetted entities to flood the market with opaque dollar tokens.“
The bill contains provisions that bar federal agencies from banning privacy-preserving technologies in stablecoin wallets but allows the Treasury to block specific transactions or protocols if national security risks are found. The move was seen as a concession to civil liberties groups and more libertarian-leaning Republicans.
Additionally, the bill defines what constitutes a “payment stablecoin” and allows registered institutions—like banks or licensed money services businesses—to issue them, provided they maintain 1:1 reserves in highly liquid assets such as dollars, Treasury bills, or central bank reserves.
However, it’s the international implications that may be most contentious. The bill would allow U.S.-licensed foreign firms to issue stablecoins within the U.S. market, so long as they report to U.S. regulators and pass quarterly audits. That move drew criticism from some lawmakers who fear it will benefit firms tied to adversarial governments.
Rep. Katie Porter (D-CA), who voted against the bill, said: “We are green-lighting a digital dollar shadow economy before we’ve even set the rules of the road.“
The bill now heads to the Senate, where its prospects remain uncertain. Senate Banking Chair Sherrod Brown (D-OH) has yet to endorse the bill and is said to be drafting a competing version with tighter controls on foreign issuers and stricter anti-money laundering requirements.
For now, the House victory gives Trump a significant policy win as crypto continues to be a major wedge issue ahead of the 2026 midterm elections.
@ Newshounds News™
Source: The Block
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GDP OF BRICS COUNTRIES OUTPERFORMS GLOBAL AVERAGE, US DISTANTLY BEHIND
The GDP of BRICS countries has outperformed market expectations and is exceeding the global average in 2025, according to the World Economic Outlook report published by the International Monetary Fund (IMF). The US, on the other hand, is distantly behind as its economy is growing in a limited manner this year.
In 2025, BRICS countries—Brazil, Russia, India, China, and South Africa—saw a combined growth of 3.4%, which exceeded expectations. The current consensus forecast predicts the GDP growth of the US at only 1.4% in 2025. The US economy is lagging behind this year with minimal growth, and the tariffs are threatening what little is left.
Below is the list of BRICS countries’ GDP projections for 2025:
- Ethiopia (6.6%)
- India (6.2%)
- Indonesia (4.7%)
- United Arab Emirates (4%)
- China (4%)
- South Africa (3.4%)
- Brazil (2.3%)
BRICS GDP Shines in 2025, US Economy On the Razor’s Edge
The latest data from the IMF also shows that BRICS accounts for 40% of the global GDP in 2025. That’s massive, as they already cover nearly half of the world’s economy. Their Purchasing Power Parity (PPP) is projected to reach 41% this year, signifying that the alliance is growing rapidly.
“There is no way that BRICS is not relevant, given the size of its population (and GDP in 2025). And there are also countries that are key in the supply of commodities, such as Brazil and Russia, which supply energy, food, and even very important strategic minerals,” said Rodrigo Cezar, Professor of International Relations at the Getulio Vargas Foundation (FGV) and a specialist in international political economy.
“So the BRICS countries are going to be very relevant in terms of dictating or giving direction to the prices of these materials,” leaving the US economy under its mercy, explained Cezar.
BRICS GDP could pressurize the markets in 2025, leading to it dominating the prices of the commodity markets this year.
@ Newshounds News™
Source: Watcher Guru
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