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U.S. Senate Advances GENIUS Act for Stablecoin Regulation

Adriana M. by Adriana M.
May 16, 2025
in Latest News
Key Points:
  • Bipartisan support drives stablecoin regulation through U.S. Senate.
  • Bill may pass before Memorial Day.
  • Could reshape stablecoin market dynamics.
genius-act-advances-in-u-s-senate-with-focus-on-stablecoin-regulation
GENIUS Act Advances in U.S. Senate with Focus on Stablecoin Regulation

The GENIUS Act’s advancement highlights the U.S. Senate’s focus on creating a stablecoin regulatory framework amid crypto market volatility.

The Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS) Act was updated and released, gaining bipartisan traction. This legislative effort is led by Senator Bill Hagerty, who initially introduced the bill in February. Senator Tim Scott is a key advocate.

Senator Cynthia Lummis played a crucial role in the act’s crafting, reflecting significant legislative involvement. Senate Majority Leader John Thune aims to fast-track the bill for a Senate vote soon, targeting a decision before Memorial Day.

The GENIUS Act introduces a tiered regulatory approach based on issuer size, impacting both depository institutions and nonbank issuers. Smaller issuers may operate under state regulatory regimes. The initiative follows recent cryptocurrency market slides, reflecting the bill’s timely significance.

The bill intends to address anti-money laundering and consumer protection, showcasing a thoughtful approach toward financial and technological governance. However, there remains partisan resistance, indicating challenges in achieving unanimous support.

Congress’s actions may influence stablecoin projects like USDC and USDT. Historical attempts at regulation have been fragmented, but this represents a concerted effort to frame a cohesive legal structure for digital currency issuance and oversight.

Potential outcomes of the GENIUS Act involve market adjustments and clarity in the regulatory landscape. Precedents suggest possible increased market stability, regulatory coherence, and encouragement for innovative financial solutions as the U.S. aligns its crypto regulations more closely with evolving global standards.

“This legislation will establish a clear regulatory framework needed to support the growth of stablecoin innovation in the United States,” said Senator Bill Hagerty, highlighting the relevance of the bill.
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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