GENIUS Act Advances Towards Stablecoin Regulation: Senate Passes Key Vote

A major step towards regulating stablecoins in the US has been taken as the GENIUS Act cleared a crucial vote in the Senate. This bipartisan legislation, signaling robust support for establishing clear guidelines and oversight for these digital currencies, moves forward to debate before its Memorial Day deadline. The bill’s passage comes after a shift in political sentiment, with key Democrats now supporting the measure alongside Republican Senator Cynthia Lummis. ]