BREAKING: U.S. Senate Crushes It with GENIUS Act Vote—Here’s What Happens Now

The U.S. Senate just flexed its legislative muscle—passing the GENIUS Act with overwhelming support. No partisan bickering, no last-minute drama. Just a rare moment of political alignment that’s got everyone from Silicon Valley to Wall Street scrambling to decode the implications.

What’s in the bill? Short answer: A turbocharged framework for American tech dominance. Long answer? Buckle up.

The Nuts and Bolts

Think of this as a regulatory green light for next-gen innovation—AI, quantum computing, and yes, even blockchain infrastructure. The bill’s language avoids crypto-specific jargon but leaves enough wiggle room for DeFi projects to thrive. Classic D.C.: vague enough to please everyone, precise enough to matter.

Why TradFi Should Sweat

Wall Street’s legacy players hate this. The GENIUS Act indirectly undermines their gatekeeper status by streamlining capital flows into tech—cutting out middlemen who’ve been skimming fees for decades. (Bonus cynical jab: Expect lobbyists to suddenly ‘discover’ the virtues of ‘consumer protection’ as their profit margins shrink.)

What’s Next?

House approval looks likely, but the real battle begins at implementation. Regulatory agencies will either become enablers or bottlenecks. Meanwhile, crypto-native firms are already rewriting playbooks to exploit every loophole. Game on.

The United States Senate voted in favor of advancing the GENIUS Act with a 68 to 30 vote on Wednesday, June 11. In a bid to regulate the stablecoin market, which has grown to more than $254 billion in market capitalization, the U.S. Senate came together across both major parties to support the GENIUS Act. 

The Senate vote, also known as the cloture vote, on the GENIUS Act, now limits the debate and sets the stage for the final vote before proceeding to the House. The final vote is expected to happen in the coming few days, potentially early next week.

Invoked, 68-30: Motion to invoke cloture on Hagerty substitute amendment #2307 to Cal. #66, S.1582, GENIUS Act.

Why the GENIUS Act Matters a Ton in the U.S. History

According to Scott Bessent, the 79th Secretary of the Treasury, the U.S.-dominated stablecoins could lock in the U.S. dollar dominance. With the U.S. dollar facing intense pressure for global currencies, the implementation of the GENIUS Act is imminent.

Furthermore, the Federal Reserve believes that stablecoins are a new way to introduce competition in the payment sector. Additionally, the U.S. dollar-dominated stablecoins continue to create organic demand for the U.S. treasuries and bond market.

Expected Impact on Crypto

The imminent implementation of the GENIUS Act will have a profound impact on the cryptocurrency market in the long haul. Moreover, the U.S. economy accounts for nearly a quarter of global economic activity.

The GENIUS Act will help increase institutional investment in the stablecoins market, which will further increase the overall crypto liquidity.