US Senate moves forward with GENIUS stablecoin bill
The US Senate moved forward the stablecoin-regulating GENIUS Act in a 66-32 in a procedural vote, with the legislation now heading to a debate on the Senate floor.
Update (May 20, 3:17 am UTC): This article has been updated to add statements from senators and information on the GENIUS Act.
The US Senate has voted to advance a key stablecoin-regulating bill after Democratic senators blocked an earlier attempt to move the bill forward over concerns about President Donald Trump’s sprawling crypto empire.
A key procedural vote on the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, passed in a 66-32 vote on May 19 local time.
Read more
