US EditionWhat’s Next for the Senate Stablecoin Bill?
- The Senate advanced the bipartisan Genius Act on May 20, 2025, in Washington, establishing the first stablecoin regulatory framework.
- The procedural 66-32 vote followed early May Senate Democrat opposition and required sixteen Democrats crossing party lines to pass.
- The bill mandates full stablecoin backing with liquid assets, bans payment stablecoins by officials, shifts regulation to the Treasury, and blocks Big Tech issuers.
- Senator Tim Scott, a Republican co-sponsor of the bill, emphasized that advancing the legislation is important because it will benefit Americans, particularly those who are struggling financially.
- The Genius Act is set for further debate and amendment in the Senate before moving to the GOP-majority House, suggesting potential regulatory clarity and market stability.
20 Articles
20 Articles
What’s next for the Senate stablecoin bill?
Stablecoin legislation advanced on the Senate floor Monday in an early win for the crypto industry, but the bill is expected to face a lengthy amendment process that will likely push a final vote beyond Congress’ Memorial Day break. The Senate voted 66-32 on Monday night to move forward with consideration of the GENIUS…
How the Senate Stablecoin Bill Could Enrich Corporations at the Expense of Consumers
Stablecoins are about as perfect a business as one can get. Customers give you money, you issue them a token representing $1, and then you can invest that stockpile of money in U.S. treasuries and other short-term holdings. You don’t have to share any of the profits with customers. In fact, according to the text of the GENIUS Act, which achieved cloture in the U.S. Senate Monday night, it would be illegal to do so. What’s more, people hardly ev…
Senate passes cryptocurrency regulation bill
WASHINGTON (NBC, KYMA/KECY) - The Senate advanced a major cryptocurrency regulation bill Monday on a bipartisan vote. This was a procedural vote on the Genius Act, establishing the first regulatory framework for issuers of stablecoins, which are digital tokens tied to flat currencies like the U.S. dollar. The vote passed 66-32 with 16 Democrats crossing the aisle to support the bill. However, Two Republicans, Senators Rand Paul and Jerry Moran, …
Senate advances GENIUS Act to regulate stablecoins amid bipartisan support
The U.S. Senate voted 66–32 on Monday to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, marking a landmark step toward establishing the nation’s first comprehensive regulatory framework for stablecoins. The bipartisan legislation aims to provide clarity for digital assets pegged to traditional currencies, addressing concerns over financial stability and consumer protection. Stablecoins are a type of c…
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