PANews reported on April 1 that according to crypto journalist Eleanor Terrett, Bryan Steil, chairman of the U.S. House of Representatives Digital Assets Subcommittee, revealed that after Wednesday's deliberations, the U.S. House of Representatives' STABLE Act (Stablecoin Transparency and Accountability to Promote a Better Ledger Economy Act) will be "well aligned with the Senate's GENIUS Act (Guidance and Establishment of the U.S. Stablecoin National Innovation Act)". This was achieved after several rounds of "draft revisions" in the House and Senate and technical assistance from the SEC and CFTC.
Bryan Steil believes that there are 20% differences between the bill and the GENIUS Act, and these differences are only in text, not significant or substantive. Currently, the biggest difference between the two is the requirements for international stablecoin issuers, state regulation of issuers, and some smaller technical differences between the two texts. Steil said, "At the end of the day, I think everyone recognizes that we want to work with our colleagues in the Senate to get this bill passed."
