U.S. Senate Advances Stablecoin Bill After Bipartisan Breakthrough
The U.S. Senate has voted 66–32 to advance the GENIUS Act, marking a pivotal step toward long-awaited stablecoin legislation. The bill, once stalled over consumer protection and ethical concerns, was revived through bipartisan compromise. Revised provisions on political influence and issuer accountability secured just enough support to MOVE forward.
Senator Elizabeth Warren remains a vocal opponent, warning of lingering risks to consumers and financial stability. crypto advocates, however, hail the vote as a watershed moment. Senator Bill Hagerty projects the legislation could catalyze over $1 trillion in demand for U.S. Treasuries, reinforcing the dollar’s dominance in digital payments.