Senate advances a major crypto regulation bill on a bipartisan vote
- On Monday, May 19, 2025, the Senate voted 66-32 to advance the bipartisan GENIUS Act, a federal stablecoin regulation bill in the U.S.
- The vote followed negotiations where several Democrats reversed opposition after adding tougher ethics rules preventing lawmakers from issuing stablecoins.
- The bill aims to create a clear regulatory framework for stablecoin issuers, barring large tech firms and enhancing consumer protections while supporting innovation.
- Senator Elizabeth Warren criticized the bill, arguing that it would enhance opportunities for corruption linked to Trump by greatly expanding the stablecoin market, while Senator Bill Hagerty praised the legislation for modernizing the U.S. payment infrastructure and advancing digital financial systems.
- The Senate is expected to review the bill and potentially hold a final vote on it this week, underscoring the Trump administration’s focus on implementing stablecoin regulations amid the expanding influence of the cryptocurrency sector.
130 Articles
130 Articles
Senator Bill Hagerty: Senate Poised to Pass Stablecoin Bill to Cement American 'Financial Dominance'
The Senate is poised to pass legislation that would provide a clear regulatory framework for stablecoins as advocates such as Sen. Bill Hagerty (R-TN) say the legislation would help American consumers and protect American "financial dominance."
Wyoming's bipartisan leadership on digital assets is a model for the nation
A recent WyoFile opinion piece by Kerry Drake offered commentary about the GENIUS Act, bipartisan federal legislation designed to provide regulatory clarity for stablecoins. While we always welcome thoughtful discussions about digital asset policy, Drake’s piece contained inaccuracies about the legislation’s current status and Wyoming’s ongoing bipartisan efforts. Opinion Since 2018, Wyoming’s Select Committee on Blockchain, Financial Technolog…
Nebraska enacts law to regulate energy use by cryptocurrency mining operations
Nebraska Governor Jim Pillen has signed new legislation aimed at regulating the energy demands of cryptocurrency mining operations. The bill, LB526, was signed into law Tuesday and was introduced on the governor’s behalf by State Senator Mike Jacobson. It establishes a series of requirements to ensure crypto mining businesses are transparent about their energy use and financially responsible for any impact on the state’s electrical infrastructur…
Senate Advances Cryptocurrency Legislation
WASHINGTON—The Senate on May 19 voted to advance a bill that would establish regulations for the cryptocurrency industry, several days after an initial vote failed because of Democratic opposition. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is a bill that seeks to impose regulations on “stablecoins,” which are digital tokens whose value is pegged to another secure asset (e.g., U.S. Treasury bonds and other…
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