From Nasdaq

June 17, 2025 6:52:00 PM:

The Senate passed S. 1582 – Guiding and Establishing National Innovation for U.S. Stablecoins Act with a 68-30 vote. This bill, introduced by Senator Bill Hagerty, aims to regulate payment stablecoins by setting requirements for reserves, adherence to federal regulations, and sales practices to ensure financial transaction safety. It also grants enforcement powers and addresses bankruptcy, oversight, and interoperability issues related to stablecoins.

The “Guiding and Establishing National Innovation for U.S. Stablecoins Act” bill, S. 1582, introduces regulations for payment stablecoins in the U.S. Issuers must maintain reserves, comply with federal regulations, and avoid unauthorized issuance or sales within the country. The legislation also focuses on issuers’ obligations, compliance, and enforcement powers to ensure transparency and financial stability in stablecoin transactions.

Senator Bill Hagerty has proposed bills such as S.2060, S.1715, S.1582, S.1522, S.1375, and S.1283, addressing various issues like sanctuary jurisdictions, privacy in purchases, and federal immigration compliance. Hagerty’s estimated net worth is $55.5M, ranking 19th in Congress, with $14.6M invested in publicly traded assets. Stock trading data shows trades of up to $53.8M, including sales of stocks like $DDOG, $RNR, $RHP, $PNFP, and $CCEP.

For more information on Senator Bill Hagerty’s bills, net worth, and stock trading activities, you can track them on Quiver Quantitative’s platform. The views and opinions expressed in this article are those of the author and may not necessarily reflect those of Nasdaq, Inc.

Read more at Nasdaq: Congress Vote: The Senate has passed S. 1582 – Guiding and Establishing National Innovation for U.S. Stablecoins Act