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The Senate’s stablecoin bill, the GENIUS Act, has regained political momentum after passing a key procedural vote. The legislation, which had previously stalled, is now on track for a full floor vote within days, potentially reshaping the crypto landscape in the U.S.
- The GENIUS Act, a stablecoin regulation bill, passed a key Senate procedural vote with bipartisan support after earlier stalling due to Democratic concerns over Trump's crypto conflicts.
- Coinbase and other crypto industry leaders ramped up lobbying efforts to push the bill forward, fearing the collapse of broader crypto legislation if the GENIUS Act failed.
- The bill includes last-minute amendments addressing conflicts of interest and Big Tech restrictions but leaves loopholes, such as allowing the president to launch stablecoins.
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