Stablecoins, which are digital currencies indexed to assets such as the US dollar, are attracting great attention these days. Investors, banks and political decisions -produce them all carefully. Bank of America is no exception – but waiting for a clear period before the start of its own Stablecoin.
In short
- The Bank of America will not start stablecoin unless clear regulations are introduced.
- The American Senate will progress in the brilliant law to regulate the stablecoins.
- CEO Brian Moynihan warns banks to prepare for the transfer of deposits because Stablecoins gain popularity.
Moynihan: Bank of America accepts cautious access to stablecoins
Brian Moynihan, CEO of Bank of America, said the bank is not going to enter the market. Rather, it is waiting for the establishment of complete legislation and market infrastructure. Until then, he noted that the bank would evaluate whether Stablecoin has a strategic and commercial meaning-building-which is in line with the way American banks now carefully approach bitcoins and digital assets.
If the law on the brilliant law or a stable law or any similar legislation is adopted – then if a market infrastructure is set – this will allow us to find out whether there is a commercial proposal in stablecoins.
Brian Moynihan
The US Senate proceeds in the legislation relating to Stablecoins
In the United States, lawmakers are working on a draft Act on the Regulation of Stablecoins. The draft law on brilliant laws would set strict rules, as stablecoins must be supported and managed. It requires every stablecoin to be supported by real US dollars or other assets that can be sell. It also requires annual audits for Stablecoins main issuers who manage more than $ 50 billion.
On Wednesday, the US Senate advanced the project. The senators voted 68 votes against 30 to move it forward. This step allows multiple discussions and closer to the project for the final decision.
Senator Tim Scott, one of the main personalities of this project, said it was a key step. He stressed that both main parties cooperated to get there. Although some Democrats decided not to support this project, others did so and showed a mixture of opinions.
Among the support was Senator Ruben Gallego. Not everyone agreed, names like Chuck Schumer and Elizabeth Warren voted against. However, the general trend is clear. A growing agreement on the need to have appropriate rules for steering stablecoin.
Strong White House Support
The US administration expressed support for the bill. President Donald Trump advisors have confirmed that it is favorable to legislation and wants it to be accepted before the Congress break in August. Vice -chairman JD also said that Trump plans to sign a project as soon as he arrives on the table.
During the Bitcoin 2025 conference, Vance said stablecoins should be perceived as a profit, not as a threat. Strong White House support gives banks and businesses more confidence in the fact that there is clear regulation on the way.
With the law established, financial institutions could feel safer for progress in their own Stablecoins initiatives.
Market reaction and institutional strategy
While the regulations are still evolving, the interest of the private stable sector is already strong. Last week, Circle, the main stable -Co -eemter, became the public on the New York Stock Exchange with Start -UP on the market. Her events have more than doubled on the first day, reflecting the strong trust of investors and renewed optimism in the digital property market.
At the same time, several major US banks – including JPMorgan Chase, Citigroup, Wells Fargo, PNC and Bank of America – created a working group to explore the Commoncoin Commoncoin initiative.
Among the ideas discussed is the creation of a payment network Stablecoin similar to Zelle. Such a system would allow banks to offer quick and safe transactions by digital currencies under their control.
A clear legal framework would give large banks the certainty necessary to explore the Stablecoins solution in complete safety in a regulated environment. This would also allow institutions to:
- Start innovative financial products based on stablecoins;
- Attract more customers through faster and cheaper payments;
- Integrate stablecoins into daily transactions.
Moynihan acknowledged uncertainty about the size that reaches the stablecoin market, but emphasized the importance of readiness. He explained that if people start using stablecoins as conventional transaction accounts, banks must ensure that these deposits remain in their systems. Otherwise, there could be a significant transfer of funds outside traditional banks.
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IFOLOWA specializes in writing and marketing Web3, with more than 5 years of experience in creating bright and strategic content. In addition, it trades in crypt and is qualified in performing technical, basic and chains.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.
