Senate Approves GENIUS Act, Paves Way for Stablecoin Regulation

The US Senate has taken a decisive step towards regulating stablecoins by advancing the GENIUS Act. Senator John Thune, driving this legislation, filed a cloture motion earlier this week, setting the stage for a final vote expected to reshape stablecoin regulations. The act’s passage coincides with significant leadership changes at regulatory bodies such as the CFTC and SEC, creating a dynamic environment for financial regulation.