U.S. Senator Bill Hagerty has introduced a landmark bill to establish a regulatory framework for stablecoins, aiming to integrate dollar-pegged digital assets into the financial system while ensuring oversight from the Federal Reserve.

Dubbed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, the proposal seeks to bring clarity to the rapidly expanding $227 billion stablecoin market. It has garnered bipartisan support from Senators Tim Scott, Kirsten Gillibrand, and Cynthia Lummis, signaling strong momentum in Congress.

Hagerty emphasized that the bill aligns with former President Donald Trump’s vision of making the U.S. the “world…