Bipartisan Push Revives Stablecoin Legislation Amid Trump Crypto Controversy

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-14 08:27:02

Lawmakers from both parties are making a renewed push to advance stablecoin legislation, following a stalled vote linked to political tensions over former President Donald Trump’s cryptocurrency ventures. The GENIUS Act, backed by major crypto industry players, is now back on the table as legislators race against the Memorial Day recess deadline.

Tennessee Republican Senator Bill Hagerty, the bill’s lead sponsor, confirmed bipartisan staff discussions are ongoing. "The window is now," Hagerty told Bloomberg, signaling cautious Optimism about pre-recess passage. The legislation previously enjoyed cross-aisle support in the Senate Banking Committee before becoming entangled in broader crypto politics.

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