A significant breakthrough has emerged in the ongoing debate surrounding stablecoins as Republican and Democratic senators have reportedly agreed on the GENIUS Act. The bill aims to establish clear regulatory frameworks for these digital currencies. While the exact text of the agreement remains confidential, Senate Democrats have requested more time to brief their colleagues before a full Senate vote. Republicans are aiming to push for this vote as soon as this week, driven by growing support. Last year, several Democratic senators voiced opposition, particularly regarding stablecoin giant Tether, potentially jeopardizing the bill’s passage. Notably, Senator Elizabeth Warren and Senator Rand Paul also expressed skepticism. However, recent developments suggest a shift in momentum towards finalizing the legislation. According to U.Today, Senate Majority Leader John Thune has set his sights on holding a vote before Memorial Day (May 26). The article provides further details from U.Today.