US Senate Moves Forward with Stablecoin Regulation Despite Trump’s Crypto Involvement

The United States Senate voted to advance the GENIUS Act on May 19, a bill aimed at establishing clear federal rules for the stablecoin market. This bipartisan vote, securing a 66-32 majority, signifies growing support for regulating this burgeoning market, valued at nearly $250 billion. However, the path to enactment has been challenging, with concerns related to former President Trump’s crypto ventures delaying progress.