Senate Advances GENIUS Act—Will the House Actually Do Its Job?

Washington’s latest crypto tango: The Senate just fast-tracked the GENIUS Act, a bill that could reshape blockchain innovation—or die in House committee purgatory like every other sane policy proposal.

Key details buried in the fine print? Zero. Because when has Congress ever let pesky specifics slow down a headline-grabbing vote?

Meanwhile, TradFi lobbyists are already sharpening their knives—nothing unites old-money dinosaurs like a chance to stifle disruptive tech while pretending to ’protect investors.’

TLDR

• The US Senate voted 69 to 31 to advance the GENIUS’ Act to the amendment stage.
• The bill had previously stalled, but gained renewed momentum through bipartisan support.
• Senator Bill Hagerty reaffirmed his commitment to establishing clear digital asset regulations.
• The GENIUS’ Act proposes federal licensing and oversight for stablecoin issuers.
• Ripple is exploring a potential acquisition of Circle to expand its stablecoin market presence.

The US Senate has advanced the stablecoin-focused GENIUS’ Act to the amendment stage after a key vote. This move signals growing legislative interest in creating a comprehensive regulatory structure for stablecoins in the country. With 69 votes in favor, the Senate pushed the GENIUS’ Act closer to becoming the first major crypto regulation in the US.

GENIUS’ Act Moves Forward Following Senate Support

The Senate voted 69 to 31 to MOVE the GENIUS’ Act into the amendment phase, showing strong bipartisan support. This comes after a cloture vote on Monday, where senators voted 66 to 32 to proceed. The bill had previously stalled, but revived momentum now places it back in legislative focus.

Agreed to in a 69-31 vote.

Now on to the amendment process… https://t.co/qzO9XX8a3P

— Eleanor Terrett (@EleanorTerrett) May 21, 2025

Senator Bill Hagerty, who introduced the GENIUS Act, reaffirmed his commitment to advancing clear regulations for digital assets and emphasized the importance of securing US leadership in financial innovation through legislation. While Democrats opposed the bill earlier, the latest votes show a shift toward broader consensus.

The bill aims to set operational rules for stablecoin issuers and establish oversight mechanisms within federal financial authorities. Lawmakers intend to offer legal clarity for digital assets while protecting market integrity and user confidence. The bill also proposes licensing structures for issuers under a unified federal framework.

GENIUS Act Spurs Ripple Expansion Strategy

Ripple reportedly seeks to expand its stablecoin presence as the GENIUS’ Act progresses in Congress. Reports suggest Ripple is exploring a potential acquisition of Circle, the issuer of USD Coin, the second-largest stablecoin. This move could strengthen Ripple’s position ahead of potential regulatory shifts.

Circle is allegedly in discussions with Ripple and Coinbase while preparing for a public offering. These corporate strategies appear aligned with anticipated developments from the bill. Ripple’s growth efforts could influence the stablecoin landscape, especially as regulation advances.

Industry stakeholders may adjust operations as the bill continues to shape the legal outlook. Ripple’s positioning reflects a broader trend of consolidation and preparedness in the stablecoin sector. As the bill gains momentum, market dynamics may shift accordingly.

Stablecoin Bill Progresses, but Not Final

Though the Senate advanced the bill, it must still pass in the House of Representatives. The timeline for a House vote remains uncertain, and procedural steps could take weeks or months. Until the House acts, the bill will not reach the President’s desk for final approval.

The GENIUS’ Act continues to serve as the central legislative proposal for stablecoin regulation in the US. Lawmakers view it as a strategic tool to balance innovation with financial oversight. Supporters argue the bill ensures competitiveness while addressing systemic risk concerns.