BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Crypto Regulation: Major Senate Vote on GENIUS Act Expected on May 8
Crypto Regulation: Major Senate Vote on GENIUS Act Expected on May 8
18
1
The U.S. Senate is poised for a pivotal vote on the GENIUS Act, a groundbreaking regulatory framework for stablecoins, scheduled for May 8. Spearheaded by Senator Bill Hagerty (R-Tenn.), the bill has garnered support from key figures including Chairman Tim Scott (R-S.C.) and Subcommittee on Digital Assets Chair Cynthia Lummis (R-Wyo.).
Despite growing resistance from Democrats and internal GOP divisions, the legislation aims to establish clear guidelines for payment stablecoins, requiring them to be fully backed. The outcome hinges on securing 60 affirmative votes to advance.
By:
Previous
Azen Token Listing Set for May 8: Snapshot and Price Details Confirmed
Next
Maldives Aims to Transform Malé into a Web3 and Cryptocurrency Hub with $9 Billion Project
