Senate Advances GENIUS Stablecoin Act for Formal Debate – Coincu

On May 20, 2025, the U.S. Senate moved forward with the GENIUS Stablecoin Act by passing a procedural vote, overcoming prior opposition from Democratic senators.

This procedural advancement represents a significant potential shift in U.S. cryptocurrency regulation, aiming to establish the first comprehensive framework for stablecoins.

U.S. Senate Advances GENIUS Act with 65-32 Vote

The U.S. Senate progressed the GENIUS Act with a 65-32 vote, a procedural step necessary before formal debate and amendments can begin. Senate Majority Leader John Thune has been instrumental in pushing this bipartisan effort forward. With procedural hurdles cleared, this act may soon see changes in the U.S. cryptocurrency market.

The legislation aims to define a regulatory framework for stablecoins, offering a blueprint for institutions seeking licenses to issue these digital assets. This move could attract more institutional investment by providing much-needed clarity. With these regulatory foundations being set, changes in market dynamics may soon emerge.

Brian Armstrong, CEO of Coinbase, emphasized the importance of this legislative step: “The bill has…for the future of cryptocurrency and on-chain innovation in the U.S.” As Senator Mark Warner from CoinDesk noted, “Innovation in this space is happening, with or without us. We have a responsibility to ensure it happens safely, transparently, and in a way that advances U.S. economic and national security interests.”

Overcoming Resistance and Setting Regulated Stablecoin Framework

Did you know? The U.S. has historically only sporadically addressed cryptocurrency regulation, as seen with the GENIUS Act’s emergence, potentially changing stablecoin market competition significantly.

Previous attempts to advance the bill failed earlier this month due to Democratic resistance. However, changes in the political landscape have given it new life. Senator Warner noted that despite political disagreements, the inevitability of blockchain technology requires proactive regulation.

Experts predict that regulated stablecoins could lead to more secure market conditions. Historically, regulatory clarity has resulted in increased adoption and trust within financial systems. By aligning with progressive trends, the U.S. might solidify its position in global digital finance.

Senate advances stablecoin bill for final passage consideration