U.S. Senate Advances Stablecoin Regulation Bill in Bipartisan Push

The U.S. Senate is accelerating efforts to pass the GENIUS Act, landmark legislation that would establish federal oversight for stablecoin issuers. Majority Leader John Thune initiated expedited procedures to fast-track the bill, signaling rare bipartisan consensus on crypto regulation.

This marks the Senate’s first serious engagement with comprehensive cryptocurrency legislation. The House is expected to follow suit with parallel stablecoin bills, creating momentum for regulatory clarity that markets have demanded since Terra’s collapse.

Banking Committee approval with strong bipartisan support suggests stablecoins may become the first crypto asset class with clear U.S. regulations. The move could catalyze institutional adoption while addressing systemic risk concerns that emerged during recent crypto market turmoil.