GENIUS Act Advances Through Senate, With 60 Amendments

The GENIUS Act has gained significant momentum in the US Senate, securing a 66-32 vote to advance its regulatory framework for stablecoins. Key players like Senators Kirsten Gillibrand and Mark Warner champion this legislation, while Elizabeth Warren expresses concern over consumer protection aspects. While progress is being made, further details on the bill’s implementation remain crucial as it potentially influences DeFi protocols, liquidity within stablecoin markets, and overall market structure.