The U.S. Senate advanced the GENIUS Act, a bipartisan bill to regulate stablecoins, toward a final vote next week, with Trump’s backing and divided Democratic support.
Senate Advances Stablecoin Bill With Cloture Vote
The United States Senate took a significant step forward on Wednesday in the effort to regulate stablecoin payments, voting decisively to advance the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS). The bill, which proposes establishing a regulatory framework for dollar-pegged cryptocurrencies used for payments, has cleared a procedural hurdle, positioning it for a final vote as early as next week.
In a 68-30 vote, the Senate moved to invoke cloture on the GENIUS Act — a procedural action that limits further debate and allows legislation to proceed to a final vote. Unless Senate leadership reaches a time agreement to expedite proceedings, the bill is now scheduled for a final vote on Monday.
Bipartisan Efforts and White Hous
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