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, this will be the first successful legislation from the Senate Banking Committee in eight years. Lummis has conducted extensive behind-the-scenes negotiations with Kirsten Gillibrand's team.
Tennessee Senator Bill Hagerty pointed out that this bill has the most bipartisan support in over a decade, but criticized Warren for delaying the legislative process. Lummis hopes to use the experience from the FIT21 bill passed by the House to advance cryptocurrency market regulation legislation.
