Stablecoin Showdown: Senate’s GENIUS Bill Sparks Partisan Firestorm as Amendments Roll In

Washington’s latest crypto clash heats up as the GENIUS stablecoin legislation barrels toward a floor vote—loaded with last-minute amendments that could make or break its chances.

Behind the scenes: Lobbyists are working overtime to tweak wording, carve out exemptions, and maybe—just maybe—sneak in a favor or two for their Wall Street overlords. Because what’s financial innovation without a little regulatory arbitrage?

The sticking point? Everyone wants ’stability’... as long as it’s their version of it. Treasury hawks demand ironclad reserves, crypto natives push for algorithmic flexibility, and banks? They’re just praying this doesn’t cut into their 0.01% APY cash cow.

One thing’s certain: If this passes, it’ll be the most bipartisan thing Congress has done all year—either by uniting allies or uniting opponents. Place your bets now.

TLDR

• GENIUS Stablecoin Bill Could Hit Senate Floor This Week If Amendments Are Settled.
• Senators Race to Finalize GENIUS Act Amid Tensions Over Crypto and Credit Card Add-Ons.
• $GENIUS Bill Faces Make-or-Break Week as GOP, Dems Clash Over Final Amendments.
• 74% of U.S. Voters Back Stablecoin Laws—Senate Faces Pressure to Deliver.
• Crypto Legislation Nears Critical Vote as Political Deals Intensify Behind Closed Doors.

The U.S. Senate is preparing to vote on the bipartisan GENIUS stablecoin bill this week. Lawmakers continue to negotiate key amendments that could either accelerate or delay the legislative process. The outcome depends on whether all parties can reach unanimous consent before the end of the week.

Amendment Talks Intensify Behind Closed Doors

Sponsors of the GENIUS Act are finalizing a package of amendments to avoid full debate. This package includes provisions for stablecoin issuer restrictions, new financial disclosure rules, and regulatory reforms. Senators are working to secure agreement without triggering procedural delays.

Crypto journalist Eleanor Terrett revealed that the GENIUS stablecoin bill may face a Senate vote as early as this week. Bipartisan lawmakers are working to finalize key amendments, if consensus is reached, the bill could pass this week; otherwise, the vote may be delayed to next…

— Wu Blockchain (@WuBlockchain) June 2, 2025

Republican leaders support amendments restricting foreign adversaries, especially Chinese ownership of stablecoin issuers. At the same time, some Democrats are pushing for expanded transparency rules targeting U.S. officials who hold digital assets. These amendments are likely to influence whether the bill proceeds to a vote this week.

Senator Thom Tillis warned he WOULD withdraw his support if the Credit Card Competition Act (CCCA) is added. The amendment, championed by Senators Roger Marshall and Dick Durbin, could shift the bill’s focus away from stablecoins. GOP support may weaken if unrelated provisions enter the final draft.

Senate Faces Tight Deadlines Amid Election-Year Pressure

The Senate returns Monday for a scheduled 5:30 PM vote on a Defense Department nominee. However, the GENIUS Act remains the focus of most internal discussions this week. The aim is to finalize the bill before procedural deadlines or political disagreements slow progress.

If lawmakers reach consensus, the bill could pass with minimal floor debate. The strategy includes quick votes on each amendment, followed by limited discussion time. Any failure to agree could push the final vote to June 9.

Political pressure has grown ahead of the summer recess and election campaigning. Senate leaders are aware that delays may carry electoral consequences in key battleground states. Lawmakers must balance party goals with growing demand for regulatory clarity.

Voter Support Adds Pressure for Fast Action

A recent survey by the Cedar Innovation Foundation shows widespread public support for stablecoin legislation. The poll covered over 1,800 registered voters across 20 swing districts in the U.S. Results revealed that 74% want Congress to pass crypto-specific regulations soon.

Support was most substantial among young voters and communities of color, especially men aged 18–34. A clear majority of Democrats, independents, and even Republicans support creating new digital asset laws. The poll findings increase pressure on lawmakers facing tight re-election races.

Crypto advocates argue that current financial rules do not effectively cover stablecoins. They say Congress must act now to protect consumers while encouraging innovation. With bipartisan backing and public support, the GENIUS Act has a narrow window to MOVE forward this week.