U.S. Senate Advances GENIUS Act in Landmark Stablecoin Regulation Vote

The U.S. Senate voted 68-30 to advance the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), marking a pivotal step toward federal oversight of dollar-pegged cryptocurrencies. This bipartisan vote on June 11, 2025, follows the collapse of an earlier stablecoin bill and aligns with broader crypto regulatory efforts, including the complementary CLARITY Act under House review.

Senate Majority Leader John Thune championed the legislation, framing it as critical for mainstream crypto adoption. "We want to bring crypto to the mainstream, and the GENIUS Act will help us achieve that," Thune stated, echoing former President Trump''s ambition to establish the U.S. as the global crypto hub.

The bill''s progress comes as stablecoin issuers like Circle (USDC) seek regulatory clarity. Market observers note the vote signals growing institutional acceptance of crypto assets, though final implementation hinges on plenary debate and House reconciliation.