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Senate Sets Cloture Vote on GENIUS Act Stablecoin Bill

Solomon M. by Solomon M.
May 16, 2025
in Latest News
Key Points:
  • GENIUS Act sponsors include Senators Hagerty, Scott, Gillibrand.
  • Senate debate determines US stablecoin regulation future.
  • Potential impact on major stablecoins and crypto market dynamics.
senate-plans-cloture-vote-on-genius-act-impact-on-stablecoin-regulation
Senate Plans Cloture Vote on GENIUS Act: Impact on Stablecoin Regulation

The cloture vote on the GENIUS Act holds significance for crypto regulation, influencing investor strategies and regulatory landscapes.

The US Senate has scheduled a cloture vote on the GENIUS Act, focusing on stablecoin legislation. The act, sponsored by Senators Hagerty, Scott, Gillibrand, and Lummis, affects stablecoin market structures. It is managed by the Senate Banking Committee.

This legislative move features strong debate regarding stablecoin issuance ethics. “GENI Act makes clear that [ethics laws] apply to Members of Congress [and] Senior Executives in the government. Crucially, it clarifies that these ethics laws pertain to the business of issuing a payment stablecoin,” said Senator Tim Scott, Chair of the Senate Banking Committee. Senator Scott’s committee clarified that ethics apply to Congress and executives, while Representative Waters raised agency control concerns. This underscores the bill’s political complexities.

The GENIUS Act may influence major stablecoins like USDT and USDC, impacting institutional interest. No immediate on-chain data shifts correlate, though regulation can spur stablecoin minting and offshore to regulated venue flows.

Economically, clear regulatory frameworks could boost institutional confidence in digital assets. Historically, similar legislation increased USDC/USDT trading volumes and governance activities in DeFi protocols like MakerDAO and Aave.

The passage or rejection of the GENIUS Act could signal new regulatory standards for US-based stablecoin operations. This decision will likely shape digital asset markets and investor behavior as stakeholders await the May 19 vote.

Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

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