U.S. Senators Aim for Stablecoin Legislation Before Recess

A bipartisan push for stablecoin regulation is gaining momentum as U.S. senators aim to establish a federal framework before the May 26 recess. This effort, spearheaded by Republicans and Democrats alike, seeks to harmonize digital currency regulations with existing market activity. Senators see this legislation as crucial to achieving regulatory clarity within the industry. The GENIUS Act, supported by prominent figures like Senator Bill Hagerty (R-TN) and Senator Angela Alsobrooks, outlines a comprehensive framework for stablecoin regulation. This proposed framework would place greater scrutiny on issuers while aligning U.S. policy with evolving digital finance trends.