According to Odaily Planet Daily, U.S. Senate Majority Leader John Thune has submitted a motion to end debate on the GENIUS Act, scheduled for a vote on May 19. The bill requires issuers with assets over $10 billion to be regulated by the Federal Reserve, smaller institutions to be regulated at the state level, and all stablecoins to be fully backed by assets such as U.S. dollars or government bonds. The latest amendment adds three provisions: stricter rules for technology companies involved in financial assets, strengthened consumer protection mechanisms, and enhanced oversight of government officials. The House of Representatives has passed a similar STABLE Act, requiring issuers of stablecoins like USDT to operate transparently. If the bill passes, it will become the first federal legislative framework for stablecoins in the U.S., influencing the regulatory direction in the digital asset space.

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