U.S. Senate Advances GENIUS Stablecoin Act for Debate – Coincu

The U.S. Senate voted to advance the GENIUS Stablecoin Act for debate, with bipartisan support marking a pivotal point in U.S. crypto regulation.

The bill’s potential passage could influence the U.S.’s stance in global digital finance, driving regulatory clarity and market stability.

U.S. Senate’s Bipartisan Push for Stablecoin Regulation

The U.S. Senate’s recent cloture vote on the “Guiding and Establishing National Innovation for U.S. Stablecoins Act” allowed the bill to progress to full consideration and potential amendment. Support increased as at least 15 Democratic senators, including Catherine Cortez Masto and Adam Schiff, altered their positions to endorse the legislation.

Bipartisan shift suggests growing consensus on the need for systematic regulation and innovation within the digital finance industry. The GENIUS Act, with its comprehensive framework, aims to standardize stablecoin issuance under specific criteria, permitting issuers to operate transparently and securely.

Reactions from key figures within the industry and legislative bodies indicate recognition of the bill’s impact. Senate Banking Committee Chairman Tim Scott welcomed the support, emphasizing that it “keeps innovation in America… [and] safeguards our national security.” Conversely, Senator Elizabeth Warren argued against the act during a Senate floor speech, highlighting differing views within the chamber.

Tim Scott, Chairman, Senate Banking Committee, “Tonight’s vote is a welcome and long-overdue step toward asserting U.S. leadership in digital assets. After playing politics, I’m glad many of my Democratic colleagues have returned to the table and are supporting a bipartisan product they helped shape. By moving forward on the GENIUS Act, we are one step closer to developing a regulatory framework that keeps innovation in America, protects consumers, and safeguards our national security.”

Bitcoin Surges as Senate Considers GENIUS Act

Did you know? In 2019, the U.S. initially hesitated on stablecoin regulations, contrasting with current bipartisan support.

As of May 21, 2025, Bitcoin’s price stands at $109,591 with a 24-hour trading volume exceeding $78.61 billion, reflecting a 2.60% rise within the last day, according to CoinMarketCap. The cryptocurrency now commands a market dominance of 63.21%, while its market cap approaches $2.18 trillion.

Insights from the Coincu research team indicate that regulatory frameworks like the GENIUS Act could significantly affect market stability and technological advancement. Previous trends show that clear regulations attract institutional interest and market participation. Bitcoin’s price fluctuations in response to regulatory news have been notable.