After weeks of behind-the-scenes wrangling, the U.S. Senate has voted 66–32 to advance the GENIUS Act—pushing long-awaited stablecoin legislation one step closer to reality.
Once dismissed due to concerns around consumer protection and ethical loopholes, the bill was revived through bipartisan compromise. Lawmakers revised sections on political influence and issuer accountability, earning just enough support to move forward.
Not all lawmakers are on board. Senator Elizabeth Warren continues to oppose the bill, warning it still poses risks to consumers and financial stability.
Despite criticism, crypto advocates are calling the vote a watershed moment. Senator Bill Hagerty says the legislation could drive over $1 trillion in demand for U.S. Treasuries and secure the dollar’s role in digital payments.
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Supporters also point to its potential to establish regulatory certainty for fiat-backed stablecoins. Industry groups like Chainlink and the Cedar Innovation Foundation hailed the progress as a sign the U.S. is finally preparing to lead on digital finance policy.
The bill now heads to the House, where its final form will face further scrutiny.
Alexander Stefanov
With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.
