From Wild West to Regulated Era: Unpacking America's STABLE Act

Once upon a time, the stablecoin market resembled the "Wild West," growing unchecked with little regulation. But this scenario is undergoing a seismic shift: the U.S. Congress has introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 (referred to as the *STABLE Act*). This legislation aims to impose strict regulations on stablecoins—requiring issuers to obtain licenses, maintain full reserves, refrain from paying interest, and disclose information regularly. A regulatory storm is brewing around stablecoins. How will it reshape this multi-billion-dollar market?