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GENIUS Act Advances with Bipartisan Support Despite Democratic Opposition
GENIUS Act Advances with Bipartisan Support Despite Democratic Opposition
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The US Senate has pushed the GENIUS Act closer to enactment after a 66–32 cloture vote on May 19, marking rare bipartisan cooperation. Over a dozen Democrats crossed party lines to advance the stablecoin legislation, which now heads to the House floor for further debate.
Earlier resistance from Democratic lawmakers centered on perceived weaknesses in consumer protections, corporate accountability, and ethical exemptions for political figures. Closed-door negotiations between Senate leaders and crypto advocates ultimately reshaped the dialogue, overcoming a failed vote earlier this month.
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