GENIUS Act Vote Looms Before Memorial Day, Offering Stablecoin Regulation in US

The GENIUS Act, a landmark piece of legislation aiming to regulate stablecoins in the United States, is poised for a vote before the Memorial Day break. According to Politico, Senate Majority Leader John anticipates swift action on streamlining the stablecoin segment within the crypto industry. The anticipated vote comes as the bill’s progress has garnered bipartisan support, with at least five Democrats already voting in favor at the Senate Banking Committee level. Should it pass, the GENIUS Act would mark a major breakthrough for the crypto industry and be the first significant legislation during Trump’s presidency.