BREAKING: Trump-Endorsed GENIUS Stablecoin Bill Nears Historic Senate Approval

The crypto world braces for seismic regulation—or just another political circus act.

After months of gridlock, Washington finally moves the needle on digital asset oversight. The so-called ''GENIUS Act''—a Trump-backed stablecoin bill—just cleared its last procedural hurdle. Now it barrels toward a full Senate vote, with both crypto whales and DC lobbyists scrambling to position themselves.

Why this matters: The legislation could finally provide clear rules for dollar-pegged cryptocurrencies. No more regulatory whack-a-mole where stablecoins get treated like securities one day and commodities the next.

The irony? Congress moves at blockchain speed—only when there''s enough political mining power behind it. Meanwhile, Tether''s market cap quietly doubled during the debate.

Prediction: Banks will hate it, anarcho-capitalists will tolerate it, and your grandma still won''t understand it. Place your bets—this could either legitimize crypto or become another bureaucratic token gesture.

TLDR

• Senate Advances GENIUS Stablecoin Bill With Bipartisan Backing
• Stablecoin Bill Nears Senate Final Vote Amid Trump Ties Scrutiny
• GENIUS Bill Clears Key Hurdle in Senate, Eyes Monday Vote
• Trump-Linked Crypto Concerns Spark Senate Division on GENIUS Bill
• House Faces Split as GENIUS Stablecoin Bill Gains Senate Ground

The U.S. Senate has advanced the GENIUS stablecoin bill, bringing the legislation one step closer to final approval. Senators voted 68–30 to invoke cloture, setting up the bill for a final vote as early as next Monday. The bill mandates liquid assets back stablecoins and imposes audit rules on large issuers.

🚨 GENIUS Act (amended) exceeds 60 votes in US Senate

this enacts cloture (prevents filibuster) on the amended version of the bill, and 30 floor hours from now (likely Monday/Tuesday), the senate can vote on final passage (with just 50+ votes required) pic.twitter.com/PYYXD0ibiK

— Alex Thorn (@intangiblecoins) June 11, 2025

The legislation, formally known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act, targets systemic risks in digital finance. It requires stablecoin issuers with over $50 billion in market capitalization to undergo annual audits and adds oversight measures for issuers operating outside the U.S. to address regulatory gaps.

This procedural milestone follows bipartisan discussions that aimed to bridge regulatory concerns over innovation and financial oversight. Supporters argue the bill enhances market stability, while critics have voiced worries over foreign issuers and federal power. Despite internal disagreements, Senate leaders have signaled readiness to proceed without further delays.

Democratic Opposition Remains Strong Despite Progress

While the bill gained bipartisan traction, several Democrats opposed the measure, citing unresolved issues over transparency and international issuer controls. Lawmakers including Chuck Schumer, Elizabeth Warren, and Amy Klobuchar voted against the bill during the cloture process. They raised objections related to corporate issuance, anti-money laundering provisions, and foreign-entity involvement.

However, support from other Democrats like Ruben Gallego suggests growing alignment on core regulatory principles within the party. These lawmakers believe the GENIUS bill offers a reasonable framework to support oversight without halting innovation. Still, the party remains divided, especially as concerns grow about Trump’s crypto ventures and their market impact.

Tensions increased after reports of Trump’s family launching their stablecoin through a venture named World Liberty Financial. Lawmakers have questioned the bill’s neutrality, warning it might benefit private crypto interests tied to political figures. This added a new LAYER of scrutiny during Senate and House committee discussions.

House Remains Uncertain as Parallel Bill Competes

While the Senate edges closer to passage, the House faces a more complex path due to competing legislation. The House Financial Services Committee previously advanced its stablecoin bill, the STABLE Act, in May by a 32-17 vote. That version differs in how it regulates issuers at both state and federal levels.

The House has yet to vote on the full bill, and negotiations are ongoing to reconcile the differences between both chambers. Meanwhile, amendments continue to surface, especially from Democrats aiming to address Trump’s growing influence in the crypto sector. These concerns also surfaced during recent House committee sessions on broader digital asset regulation.

President Donald Trump’s advisors have expressed full support for the GENIUS bill and urged its passage before August. According to the administration’s latest policy statement, senior officials WOULD recommend the President sign the bill if approved. This endorsement has further solidified Republican support and accelerated Senate momentum.