The GENIUS Act Likely to Pass This Wednesday – Here’s Why
The post The GENIUS Act Likely to Pass This Wednesday – Here’s Why appeared on BitcoinEthereumNews.com.
The long-debated bipartisan GENIUS Act—set to establish the United States’ first comprehensive federal framework for stablecoin regulation—may pass the Senate as soon as Wednesday, June 11. This timeline comes after Senate Majority Whip John Thune filed cloture today on Amendment #2307. This is a key bipartisan substitute to the original bill (S.1582), and on the bill itself. Next Steps for the GENIUS Act Cloture, a procedural tool used to limit debate and force a final vote, allows 30 hours of focused Senate debate. Barring procedural delays, the chamber is expected to hold final votes on both the amendment and the underlying legislation by midweek. Senate insiders familiar with the matter told BeInCrypto that Wednesday is the likely window for final passage, assuming no objections derail the schedule. The cloture filings from Thune mark the final stage in the Senate’s effort to advance the GENIUS Act. Under Senate rules, the 30-hour clock for debate began ticking immediately after cloture was invoked. So, this sets up a vote window by Wednesday. The bill requires 60 votes to overcome the filibuster and move to a final vote. 🚨NEW: @LeaderJohnThune has filed cloture on both the bipartisan amendment to GENIUS Act and the full bill. Votes on cloture will occur this week. Again, these votes will need 60 votes to move to final passage. https://t.co/uxFBV84Lel — Eleanor Terrett (@EleanorTerrett) June 9, 2025 This follows significant bipartisan cooperation led by Senators Bill Hagerty, Kirsten Gillibrand, Cynthia Lummis, and Chris Van Hollen. The Hagerty amendment (#2307) serves as a negotiated substitute, integrating several compromise provisions aimed at increasing support across both parties. Key Amendments and Negotiations Amendment #2307 reshaped the bill substantially to meet demands from both the banking sector and digital asset firms: State vs. Federal Oversight: The amendment allows stablecoin issuers under $10 billion in…
Filed under: News - @ June 10, 2025 12:22 am