The U.S. Senate will hold a debate on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, a proposed law aiming to regulate stablecoins. Advocacy groups representing the cryptocurrency industry are pressing senators to expedite the bill’s passage, fearing potential amendments related to credit card fees might slow down its progress. The bill passed its initial procedural vote in May and is expected to secure enough votes from senators this week before moving to the House of Representatives. Organizations including the Blockchain Association, Crypto Council for Innovation, Digital Chamber, and DeFi Education Fund have issued a joint statement, stressing the importance of establishing a comprehensive regulatory framework for stablecoins and urging lawmakers to maintain momentum on the bill’s advancement.