U.S. Senate Advances GENIUS Act to Amendment Stage – Coincu

The U.S. Senate recently voted 69 to 31 to move the GENIUS Act into the amendment process, highlighting a significant step toward regulating stablecoins.

Senator Bill Hagerty spearheads this initiative, aiming to set a framework for stablecoin operations in the U.S. As Senator Bill Hagerty, R-TN, stated, “The GENIUS Act is a crucial step in providing a regulatory framework for stablecoins, which are essential for the future of the U.S. economy.”

Debate Over Stablecoin Market Growth and Regulation

Senator Elizabeth Warren has criticized the act, stating it could increase the stablecoin market size and influence. Her vocal opposition underscores potential divisiveness, emphasizing differing views over cryptocurrency regulation.

Did you know? Stablecoin regulation has been contentious in U.S. policy, often paralleling past financial accountability debates that aim to balance innovation with regulatory oversight.

According to Coincu research, the GENIUS Act’s furtherance may intensify focus on stablecoin regulations within the U.S. market structure, potentially affecting both financial markets and regulatory landscapes.

Historical Context, Price Data, and Expert Analysis

Did you know? Stablecoin regulation has been contentious in U.S. policy, often paralleling past financial accountability debates that aim to balance innovation with regulatory oversight.

World Liberty Financial USD (USD1) remains stable at a price of $1.00, maintaining a market cap of $2.14 billion and a circulating supply of 2,136,580,730. Trading volume sees a 20.49% increase, despite minor changes over the past 90 days, data from CoinMarketCap indicates.

According to Coincu research, the GENIUS Act’s furtherance may intensify focus on stablecoin regulations within the U.S. market structure, potentially affecting both financial markets and regulatory landscapes.