Breaking News: U.S. STABLE Act Set to Shake Up Crypto World!

Hold onto your hats, crypto fans! The upcoming U.S. STABLE Act is demanding full reserves, and guess who's laughing all the way to the bank? That's right, compliant stablecoin issuers like Coinbase are about to hit the jackpot!

The U.S. is on the brink of a major shakeup in stablecoin regulation, and it's about to change the game for issuers. On Friday, April 17, Nansen dropped a bombshell report, naming the potential heavyweights of the STABLE Act. According to the report, the big dogs like Coinbase, PayPal, and Visa are poised to rake in the biggest benefits.

The STABLE Act, which bulldozed through the U.S. House Financial Services Committee on April 2, is no joke. It's a full-on regulatory blitz aimed at protecting holders, shining a spotlight on issuers' transparency, and beefing up the U.S. dollar's global muscle.

This beast of a bill isn't playing around. It's demanding full reserves in cold, hard cash or U.S. Treasuries, and it's a big no-no to interest payments for holders. And if you want to play in this sandbox, you better be a licensed bank, an approved state trust, or under the watchful eye of the U.S. Office of the Comptroller of the Currency.

Coinbase, Visa, and PayPal Set to Cash in Big from the STABLE Act

Here's the kicker: if the STABLE Act passes, the companies that have been playing by the rules are about to get a major boost. And who's leading the pack? None other than Coinbase, the heavyweight distributor of Circle's USDC stablecoin.

USDC is already ticking all the boxes that U.S. regulators are drooling over. Plus, Circle's been putting transparency front and center and even passed the grueling EU MiCA regulation test with flying colors. No wonder it's dominating the Euro-based stablecoin scene!

But wait, there's more! PayPal is another contender gunning for the top spot. They teamed up with Paxos to launch PYUSD, and while it's only got a tiny 0.38% of the stablecoin market share right now, the STABLE Act could be the rocket fuel PayPal needs to supercharge PYUSD across its massive payment network.

And let's not forget about the credit card titans Visa and Mastercard. These guys have been dabbling with stablecoins, and Visa even took USDC for a spin in card settlements. With the STABLE Act in play, these companies could be weaving stablecoins right into the heart of their services.

But here's the twist: USD1, the new kid on the block from the Trump-linked World Liberty Financial, didn't even make the cut in Nansen's report. Sure, it checks all the boxes, but without a robust ecosystem like Coinbase, PayPal, or even Visa, it's left out in the cold.