On February 10, 2025, Congresswoman Maxine Waters introduced a bipartisan bill focused on regulating payment stablecoins. This bill enforces strict reserve requirements and enhances consumer protection, prohibiting major tech firms from issuing stablecoins.

The bill mandates compliance with U.S. Anti-money laundering laws and closes offshore loopholes. Notably, individuals convicted of financial crimes are barred from holding ownership in stablecoin issuers, ensuring stability within the market.