Progress towards a final stablecoin bill, the GENIUS Act, is advancing as Senators reached consensus on 90% of its terms. However, ethical concerns remain, particularly regarding potential conflicts of interest involving government officials and public companies issuing stablecoins. The bill’s impact could significantly reshape stablecoin regulations, affecting market trust and operations. The remaining unresolved issues, relating to official involvement in the stablecoin industry, have driven increased scrutiny for large issuers. 90% agreement has been reached on GENIUS Act terms despite lingering concerns. This is a significant step towards establishing clear regulatory parameters for stablecoins.