The U.S. House Financial Services Committee advances the STABLE Act, yet to be submitted for a vote in the House.

According to Gate News bot, The Block reported that the U.S. House Financial Services Committee has advanced its own stablecoin legislation - the "Stablecoin Transparency and Accountability for a Better Ledger Economy Act" (STABLE Act). The bill has not yet been submitted for a vote by the full House.

This may require additional consideration for the further advancement of the "GENIUS Act," as representatives in the House may seek to integrate elements of the "STABLE Act" or prioritize their own legislation.

The U.S. "GENIUS Act" was passed by a final vote in the Senate with bipartisan support on Tuesday and submitted for review by the House of Representatives.