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

The U.S. Senate advanced the GENIUS Act on June 11, significant for stablecoin regulation. Cloture vote allows a final vote on stablecoin oversight. Major impact anticipated on stablecoin issuers and market innovation.

U.S. Congress is set to decide on a procedural “cloture” vote at 2 PM ET concerning stablecoin regulation, a decisive step for stablecoin issuers. A cloture vote paves the way for a Senate decision. The Senate’s procedural vote on the GENIUS Act, a stablecoin regulation bill, marks a significant legislative step in the U.S. Key figures include Senator John Thune, who filed for cloture earlier this week. The vote passed 68-30, indicating bipartisan support for stablecoin regulatory clarity.

GENIUS Act Advances: Senate Vote Signals Regulatory Shift

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).

Market dynamics are set to shift as the GENIUS Act mandates fully backed reserves for stablecoins with large capitalizations, affecting institutions like Circle and Tether. The bill’s provisions also require yearly audits, supporting financial accountability. Major reactions stem from figures like Alex Thorn of Galaxy Research, emphasizing the bill’s potential for innovation through regulated stability. Broader market sentiment perceives the legislative progress as beneficial for compliant advancements in digital assets.

Regulation Requirements: Impact on Circle and Tether

Did you know? This Senate cloture vote represents a pivotal moment in U.S. legislative history, being one of the rare instances where cryptocurrency regulation has advanced beyond initial committee stages.

Tether USDt (USDT) trades steadily at $1.00 with a market cap of $155,050,427,184, holding a dominance of 4.51%. Its trading volume is $88,412,910,043, showing minimal price fluctuations. Data as of 20:26 UTC, June 11, 2025, from CoinMarketCap. Insights from the Coincu research team highlight potential economic outcomes of increased stablecoin regulation, anticipating enhanced market resilience through stricter audit requirements. Historical data suggest regulation often leads to increased investor confidence, driving innovation within compliant frameworks.

Insights from the Coincu research team highlight potential economic outcomes of increased stablecoin regulation, anticipating enhanced market resilience through stricter audit requirements. Historical data suggest regulation often leads to increased investor confidence, driving innovation within compliant frameworks.