The Senate is expected to vote on the GENIUS Act as early as Wednesday, marking a crucial step towards regulating stablecoins in the United States. The bill, which establishes a national framework for stablecoin oversight, has garnered bipartisan support after months of negotiations between lawmakers from both parties and various financial stakeholders. Following amendment #2307 introduced by Senator Hagerty, the bill now offers distinct regulatory pathways based on an issuer’s market value. Smaller issuers under $10 billion in market capitalization can choose state-level oversight, while larger issuers exceeding that threshold will face federal regulations. 1:1 reserve requirements with U.S. dollars or liquid short-term assets and monthly public attestations ensure operational integrity for stablecoin issuers. Further provisions restrict the offering of interest on stablecoins, limit foreign stablecoin regulation, and prevent executive branch involvement in national stablecoin initiatives. The bill’s swift progress through the Senate suggests limited opposition, paving the way for its next step – alignment with the STABLE Act in the House of Representatives before reaching the President’s desk.