Fate of Stablecoin Bill Hangs in Balance as Senate Vote Approaches

The US Senate is set to hold a decisive vote on the GENIUS Act, a bill designed to establish a national regulatory framework for stablecoins, on June 17. The legislation, which cleared a procedural hurdle with a 68-30 majority, could empower approved institutions to issue stablecoins under federal oversight.

Recent amendments have introduced ethical safeguards aimed at preventing conflicts of interest among lawmakers and their families. The bill has also been refined to clarify agency responsibilities, reflecting ongoing efforts to balance innovation with financial transparency.

Missouri Senator Josh Hawley remains a vocal opponent, warning that the legislation could disproportionately benefit large technology companies. The outcome of Tuesday''s vote will determine whether the US moves closer to comprehensive stablecoin regulation or maintains the status quo.