Senate Sets Course for Stablecoin Regulation Before Memorial Day

The U.S. Senate is poised to take action on stablecoin regulation before Memorial Day, with Majority Leader John Thune indicating a plan to address the issue. This news comes as Senator Bill Hagerty’s GENIUS Act, aiming to limit payment stablecoin issuance in the US, progresses through the legislative process following successful passage by the Banking Committee. While President Trump’s administration has taken steps related to stablecoins, including executive orders that could have legal ramifications, the Senate is now taking the lead on this regulatory landscape.