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U.S. Stablecoin Regulation Nears Decision as GENIUS Act Heads for May Vote
U.S. Stablecoin Regulation Nears Decision as GENIUS Act Heads for May Vote
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Senate Majority Leader John Thune has signaled a pivotal vote on the GENIUS Act before Memorial Day, setting the stage for the first comprehensive U.S. stablecoin framework. The legislation, championed by Senator Bill Hagerty, would mandate federal licensing for issuers under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) regime.
Market participants view the May 26 deadline as a watershed moment for dollar-pegged cryptocurrencies. The Banking Committee’s March approval suggests bipartisan recognition of stablecoins’ systemic importance, though final language remains contentious. Regulatory clarity could catalyze institutional adoption while curbing algorithmic stablecoin risks.
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