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GENIUS Act Stablecoin Bill Advances After Cloture Vote, Senate Final Vote Awaited
GENIUS Act Stablecoin Bill Advances After Cloture Vote, Senate Final Vote Awaited
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The GENIUS Act, a pivotal stablecoin regulation bill, cleared a critical hurdle as the Senate passed its cloture vote. This procedural step halts potential filibusters and paves the way for a final vote. Senator Kirsten Gillibrand, a vocal crypto advocate, backed the amendments despite criticizing former President Trump''s crypto ventures, underscoring the bill''s economic importance.
Bipartisan adjustments to the GENIUS Act addressed Democratic concerns about market stability, galvanizing support. The legislation now moves toward a decisive Senate vote, with implications for the broader digital asset ecosystem. Stablecoins—often pegged to fiat currencies like the dollar—could see enhanced regulatory clarity if the bill passes.
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