U.S. Senate Schedules GENIUS Act Vote on Stablecoin Regulation – Coincu

The U.S. Senate is preparing for a final vote on the GENIUS Act, a significant piece of legislation that aims to regulate stablecoins, scheduled for June 17.

This vote represents a critical step in shaping the future of cryptocurrency markets by possibly enhancing market stability and boosting investor confidence. Key figures such as Senator Hagerty and Majority Leader John Thune have been instrumental in these negotiations.

GENIUS Act Vote Scheduled for June 17

The U.S. Senate plans a final vote on the GENIUS Act for stablecoin regulation, scheduled for June 17. Key figures negotiating the act include Senator Hagerty and Majority Leader Thune.

The GENIUS Act may significantly influence stablecoin market stability, potentially increasing investor confidence and affecting wider cryptocurrency markets.

Responses are varied across the community. Some stakeholders welcome the added clarity and protections, while others fear over-regulation.

Insights on Historical Trends and Market Impact

Did you know? GENIUS Act follows the STABLE Act, setting stricter requirements for reserve backing, echoing historic regulatory trends for digital currencies.

According to CoinMarketCap, Tether USDt (USDT) stands at $1.00 with a market cap of $155.24 billion. The 24-hour trading volume is $118.04 billion, showing a 33.12% change. Recent price fluctuations are minimal, with a 0.03% change in the last day.

The Coincu research team suggests that the GENIUS Act could lead to increased regulatory oversight, stabilizing fickle market dynamics if fully enacted. Expectations are a likely rise in institutional and retail confidence.