- GENIUS Act advances with 66-32 procedural vote in U.S. Senate.
- Stablecoin regulations gain bipartisan support despite initial opposition.
- Potential impact on institutional investors and crypto businesses.
On May 20, 2025, the U.S. Senate passed a procedural motion for the GENIUS Act, advancing legislation to regulate stablecoins. The progression of this legislation marks a significant step forward in establishing federal oversight and regulation within the cryptocurrency sector.
The U.S. Senate’s procedural vote on the GENIUS Act passed with 66 votes in favor and 32 against. The legislation, sponsored by Senator Bill Hagerty, aims to create a regulatory framework for stablecoins and issuers. This vote marked the advancement of the bill after Democratic amendments gained additional support.
Senate Greenlights GENIUS Act: 66-32 Vote Secures Movement
Regulatory clarity is expected to result from this legislation, potentially fostering greater certainty for institutional investors and cryptocurrency enterprises using stablecoins. Senator John Thune expressed optimism, stating that the bill’s bipartisan nature reflects a broader consensus:
Democratic and Republican senators have shown varied reactions. Senator Mark Warner endorsed the bill following revisions, recognizing the lasting impact of blockchain technology. Yet, Senator Elizabeth Warren continues to oppose the GENIUS Act, highlighting concerns about connections between digital assets and the Trump family.
“We’ve seen this bill advance as a reflection of the bipartisan consensus on this issue.”
Stability and Investor Confidence: Market Eyes Regulatory Clarity
Did you know? The GENIUS Act marks a significant step as it represents the first comprehensive legislation for stablecoins to clear Senate procedures, showing how bipartisan efforts can pave the way for future digital asset regulations.
Tether USDt (USDT) maintains its stability with a current price of $1.00, holding a market cap of $151.61 billion and a trading volume drop of 17.68% as per CoinMarketCap. The market shows steady interest despite minor fluctuations in the past three months.
Research from Coincu projects that successful implementation could enhance regulatory and market conditions for stablecoins, potentially solidifying the U.S. position in cryptocurrency innovation. Historical trends indicate that structured regulation may elevate investor confidence.
Source: https://coincu.com/338651-senate-advances-genius-act-stablecoin/