US Senate moves forward with GENIUS stablecoin bill 🇺🇸
The US Senate has voted to advance the GENIUS stablecoin-regulating bill, overcoming initial resistance from Democrat Senators concerned about President Trump's crypto involvement.
The decision was reached with a 66-32 vote on May 20, moving the bill forward for Senate debate.
Introduced by Senator Bill Hagerty, the GENIUS Act seeks to regulate the $250 billion stablecoin market, ensuring full backing and regular audits.
Republican Senator Cynthia Lummis aims for the bill’s passage by Memorial Day, while revisions addressed Democratic concerns over Trump's ventures.
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