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U.S. Senate Advances GENIUS Act for Stablecoin Regulation Amid Divergent Views
U.S. Senate Advances GENIUS Act for Stablecoin Regulation Amid Divergent Views
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The U.S. Senate has scheduled a pivotal cloture vote on the GENIUS Act for May 19, marking a decisive step in the country’s stablecoin regulatory framework. Senate Majority Leader John Thune’s MOVE has reignited debate, with proponents framing the bill as consumer protection and critics labeling it excessive oversight.
After months of delays, the legislation now faces a make-or-break moment. The act aims to address longstanding uncertainty around stablecoins, digital assets pegged to traditional currencies like the U.S. dollar. Market participants remain divided on whether this represents meaningful crypto integration or regulatory overreach.
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