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Senate Stablecoin Bill Passes Key Vote as GENIUS Act Regains Momentum
Senate Stablecoin Bill Passes Key Vote as GENIUS Act Regains Momentum
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The Senate’s stablecoin bill, known as the GENIUS Act, has unexpectedly regained political traction, clearing a crucial procedural vote on Monday. This marks a significant reversal from its failure less than two weeks ago, when bipartisan support crumbled amid Democratic concerns over former President Donald Trump’s crypto-related conflicts.
Key Democrats, including Senators Ruben Gallego (D-AZ), Mark Warner (D-VA), and Lisa Blunt Rochester (D-PA), have now thrown their weight behind the legislation. The renewed momentum positions the bill for potential passage within days, signaling growing institutional acceptance of stablecoins as a legitimate financial instrument.
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