US Senate Advances GENIUS Act Towards Cloture Vote, Shaping Future of Stablecoins

The US Senate is poised to take action on stablecoin legislation with the upcoming vote on the GENIUS Act. This bill, spearheaded by Senators Bill Hagerty and John Thune, aims to regulate these digital assets and has been advancing through the Senate Banking Committee for review. A cloture vote will determine the next stage of the process, potentially leading to a final decision on stablecoin regulation.