U.S. stablecoin bill likely to pass within two months, says official of President's Digital Asset Advisory Committee

The executive director of the U.S. President’s Advisory Committee on Digital Assets (PCADA) has said that a comprehensive bill on stablecoins will be finalized within the next few months.
On the 18th (local time), Executive Director Bo Hines spoke at the Digital Asset Summit in New York.
"A stablecoin bill is imminent after the Senate Banking Committee approved the GENIUS Act last week," he said in a speech at the 2020 U.S. Asset Summit.
The GENIUS Act is a bill that would set collateral standards for stablecoin issuers and require them to comply with anti-money laundering (AML) laws.
"I was able to confirm that the bill passed the Senate Banking Committee with a bipartisan agreement. My colleagues on the opposition party also stressed the importance of the United States having an advantage in this field," he said.
"It's very encouraging that they are aware of this and are willing to work together. There aren't many bills in Washington DC where the ruling and opposition parties are working together to develop the United States in a comprehensive way," he said.
When asked when the stablecoin bill could be passed, he replied, "I think it could be on the president's desk within the next two months."