The opening shot will be fired in the new Congress’ Crypto Push with a plan for a Tuesday introduction of a stableecoin supervision from Senator Bill Hagty. The legislation would create a US legislative framework for issuing the dollar-denomined tokens, according to a person familiar with the effort.

The Tennessee Republican, who had shepherded a stableecoin effort in the previous session, is now pushing a bill with support from the Senate Bank Committee’s new chairman, Tim Scott, and the head of its Digital Assets Under Committee, Cynthia Lummis. It is a big difference from the 2024 effort that could not break through the crypto -way barrier, which was maintained by former committee manager Sherrod Brown, Ohio -Democrat, which was defeated in the November election.

Hagerty’s bill, which he calls the guidance and establishment of national innovation in US StableCecoin’s (genius) law, would define the payment stablecoins and set up the procedures to issue them, including the establishment of the Federal Reserve as a watchdog for the major bank issuers and the office of the computer of the currency Regulator for non -bank issuers of more than $ 10 billion, the person said. The legislation also outlines that the reservation issues should maintain.

State regulators would be in place for the smaller issuers and for larger companies that can seek exceptions.

The difference between federal and state regulators had been the most important sticky point as Democrats and Republicans tried to prepare a compromise on stableecoins in the previous congress, and every new version still has to need a top species. It is unclear whether Hagerty’s plan, where Senator Lummis said she would work “to get this bill for the president’s desk,” will draw democratic support with her easier legislative approach.

The House of Representatives had approved a stableecoin view in the previous session, but it met resistance by getting a matching Senate version that Hagty had been sought. He is ready to introduce the new legislation today, according to news, which was first reported by Bloomberg News and confirmed by Hagty in a post on Social Media Page X.

Stableecoins are designed as stable cryptocurrency tokens whose price is linked to other assets, usually the dollar. The global stableecoin leader is Tether (USDT) and its American rival is the issuer Circle (USDC).

Later on Tuesday, President Donald Trump’s crypto -czar, David Sacks, is ready to lead a press conference with congressional leaders to outline their crypto strategy. This stablecoin effort is expected to be erected at this event.