According to ChainCatcher, Wyoming Senator Cynthia Lummis revealed at the Bitcoin 2025 conference that the GENIUS stablecoin bill has entered the final review stage in the Senate. The bill passed procedural voting last week with over 60 votes.
Despite opposition from Democratic leader Elizabeth Warren and some Republicans, the bill is still moving forward. If passed, it would be the first successful legislation from the Senate Banking Committee in eight years. Lummis has engaged in extensive behind-the-scenes negotiations with the Kirsten Gillibrand team.
Tennessee Senator Bill Hagerty pointed out that this bill has the most bipartisan consensus in over a decade, but criticized Warren for delaying the legislative process. Lummis hopes to advance cryptocurrency market regulatory legislation by learning from the experience of the FIT21 bill passed in the House.
