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Senate GOP Forces Vote on Controversial Stablecoin Bill Amid Bipartisan Opposition
Senate GOP Forces Vote on Controversial Stablecoin Bill Amid Bipartisan Opposition
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Senate Republicans are pushing forward with a Thursday vote on the GENIUS Act, the first federal framework for stablecoin regulation, despite significant resistance from Democrats and internal GOP dissent. The move appears strategically timed to position Democrats as obstructionists ahead of the 2026 midterms.
The bill’s leaked draft has drawn criticism from at least nine Democrats and three Republicans, with opponents arguing the process lacks transparency. Majority Whip John Thune’s cloture filing signals Republicans intend to proceed regardless—a gambit that could redefine crypto’s political battleground.
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