Congress nears stablecoin bill making regulated dollars act like digital cash

Washington is carving out a workable path for regulated dollar stablecoins, CryptoSlate reports. The latest version of the House bill would let approved issuers (Circle, Paxos, First Digital and a short list of bank-chartered newcomers) issue stablecoins that function almost like digital cash — transferable without KYC at the transaction level, subject to issuer-level AML. The bill excludes algorithmic stablecoins and foreign-issued tokens. If passed, the framework would give USDC and comparable tokens clear legal footing in payments and treasury management, while leaving Bitcoin and broader crypto policy for later.