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BTCC / BTCC Square / Global Cryptocurrency /
GOP Forces Vote on Stablecoin GENIUS Act Amid Democratic Backlash

GOP Forces Vote on Stablecoin GENIUS Act Amid Democratic Backlash

Author:
Global Cryptocurrency
Published:
2025-05-06 04:10:29
15
3

Republicans are pushing forward with plans to bring the GENIUS Act to a floor vote this Thursday, despite losing Democratic support for the stablecoin legislation. The bill aims to establish federal oversight for payment-focused stablecoins and set transparency standards in digital asset markets.

Originally framed as a measure to foster innovation and maintain U.S. competitiveness in crypto, the GOP’s fast-track maneuver triggered a withdrawal of support from nine Senate Democrats over the weekend. The move follows Majority Leader John Thune’s decision to bypass further committee revisions.

|Square

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