A pivotal vote in the U.S. Senate could soon reshape how stablecoins are regulated, as lawmakers prepare to decide the fate of the GENIUS Act—a bill that’s been in negotiation for weeks.
The proposal would enforce strict requirements on issuers, mandate full dollar backing for stablecoins, and restrict large tech firms from entering the space unless they meet specific privacy and financial conditions.
After failing to gain traction initially due to Democratic objections, the bill has been amended to address concerns related to money laundering, foreign involvement, and the potential influence of political figures tied to crypto ventures. These updates helped the measure clear a key procedural vote with bipartisan support, paving the way for Tuesday’s final decision.
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One controversial aspect remains the indirect involvement of President Trump, whose family is linked to World Liberty Financial—a firm behind a fast-growing stablecoin. While the bill avoids directly targeting the Trump family, new ethics clauses bar current government officials from issuing or holding large amounts of stablecoins without disclosure.
If the Senate approves GENIUS, the House may consider adopting it over its own version, the STABLE Act, which differs in approach to state-level frameworks and international oversight. Observers believe GENIUS is more likely to survive the legislative process due to its broader political backing and clearer regulatory scope.
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.
