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GENIUS Stablecoin Bill Advances to Senate Floor Debate After Key Procedural Vote
GENIUS Stablecoin Bill Advances to Senate Floor Debate After Key Procedural Vote
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The GENIUS Act cleared a critical hurdle with a 66-32 Senate cloture vote on May 20, setting the stage for full floor debate. The bill overcame initial Democratic opposition after 15 senators reversed their positions. Stablecoin regulation now moves toward potential enactment as the legislative process accelerates.
Market participants view this development as a watershed moment for cryptocurrency legitimacy. The procedural victory signals growing political acceptance of dollar-pegged digital assets, though final passage remains uncertain. Regulatory clarity could catalyze institutional adoption across exchanges and decentralized finance platforms.
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