US Senate Revives Stablecoin Regulation Push with Revised GENIUS Act

The GENIUS Act, a legislative proposal to establish federal oversight of stablecoins, has been reintroduced in the US Senate after failing its initial vote. The bill initially fell short with a 48-49 vote but has since undergone revisions following bipartisan negotiations.

Democrats previously opposed the legislation unanimously, citing inadequate consumer protections and concerns over former President Trump’s ties to the cryptocurrency industry. The revised version attempts to address these objections, though its passage remains uncertain given the Senate’s 60-vote threshold requirement.

The renewed effort signals growing political engagement with cryptocurrency regulation, particularly around dollar-pegged stablecoins that have become critical infrastructure for digital asset markets. Market participants are closely watching the developments, as federal clarity could significantly impact stablecoin issuers and trading platforms.