The U.S. Senate faces a critical deadline to pass the GENIUS Act, legislation aimed at regulating stablecoins. After failing to advance in a recent vote, pressure is mounting for action before time runs out. Introduced by Senator Bill Hagerty in February 2025 with bipartisan support, the GENIUS Act seeks to establish clear rules for stablecoin operations within the U.S. Stablecoins are digital currencies pegged to real assets like the U.S. dollar, aiming for stability and value preservation. The bill mandates stablecoin companies maintain cash or secure investments backing their coins, requires monthly reserve reporting, and subjects them to criminal penalties for misrepresenting reserves. However, it failed to gain enough votes to reach a final debate vote, also known as cloture. Experts warn that this may be the last chance for the bill to succeed in its current form.