The post U.S. Senate Advances Key Stablecoin Bill, the “GENIUS Act” – Coincu appeared on BitcoinEthereumNews.com.

Key Points: The U.S. Senate moves GENIUS Stablecoin Act forward amidst heightened bipartisan backing. Bipartisan effort leads to procedural advancement in stablecoin legislation. Stablecoin sector anticipates favorable regulatory framework ahead. The U.S. Senate took a decisive step by advancing the GENIUS Stablecoin Act through its cloture motion, supported by over 60 votes. This legislative step marks significant progress toward establishing a stablecoin legal framework. The GENIUS Act’s legislative progress suggests potential for regulatory clarity, likely impacting stablecoin usage within the digital asset space. Financial markets have responded cautiously, noting the importance of such clarity. GENIUS Act Surpasses 60 Votes in Senate Cloture Motion The GENIUS Stablecoin Act, led by Senator Bill Hagerty, earned significant support from over 60 senators, including a notable shift from at least 15 Democrats. This legislative progress signifies a step toward establishing stablecoin regulation. Stablecoin regulation is expected to clarify risks and boost institutional interest. The GENIUS Act progression suggests a profitable path for major stablecoins like USDT, USDC, and DAI. “This legislation creates a legal framework for stablecoins, which is a significant victory for the cryptocurrency space. The bill will now move to the full Senate voting stage. Thanks to Senator Bill Hagerty for leading the charge on this bill, successfully garnering over 60 votes in support of the ‘GENIUS Act.’” — David Sacks, Investor & Tech Entrepreneur Stable Market Expected as Regulation Boosts Investor Confidence Did you know? Regulatory advancements, like Europe’s MiCA, previously resulted in substantial inflows into compliant stablecoins. The GENIUS Act may create similar opportunities within the U.S. market. Tether USDt (USDT) maintains its $1 price, with a market cap of $151.62 billion and 4.58% dominance as of May 20, 2025. Data from CoinMarketCap shows stability in USDT trading, with a 24-hour volume of $86.34 billion, reflecting a -19.17% change. Tether…

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Filed under: News - @ May 20, 2025 12:28 pm