The US Senate is set to vote on the GENIUS Act, which focuses on regulating stablecoins, a significant step that could shape the future of cryptocurrency regulation in America. This act, sponsored by Senators Hagerty, Scott, Gillibrand and Lummis, among others, has sparked debate over its impact on ethical considerations surrounding stablecoin issuance within Congress and government. Senator Tim Scott, Chair of the Senate Banking Committee, has clarified that the legislation clarifies the applicability of ethics laws to Congressional members and executives involved in issuing a payment stablecoin. Meanwhile, Representative Waters raised concerns about agency control, highlighting the bill’s complex political landscape.