The US Senate is preparing for a final vote on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which is scheduled for Tuesday, June 17. The bill, aimed at creating a structured regulatory framework for stablecoins, has moved swiftly through the Senate after a procedural vote held on June 12 signaled growing support.
The GENIUS Act has become a focal point in US digital asset legislation as lawmakers push for clearer rules in a rapidly expanding market. If passed, the bill would mark a major step in integrating stablecoins into the regulated financial system, potentially driving further on-chain activity and market adoption.
Thune pushes for crypto integration into everyday life
Senate Majority Leader John Thune called on fellow lawmakers to pass the GENIUS Act, echoing broader policy goals aligned with former President Donald Trump’s digital asset agenda. Thune expressed confidence that the legislation will help position the US as a global leader in crypto regulation and make digital assets a routine part of daily life.
The Senate voted 68-30 to advance the bill, with bipartisan support clearing the way for a full debate and final vote. Several Democrats joined Republicans in voting to invoke cloture, showing a rare moment of cross-party cooperation in the crypto space. Thune also pointed to ongoing work in the House of Representatives, where committees recently advanced the CLARITY Act, a separate bill focused on digital asset market structure.
Warren raises concerns over Trump ties and regulatory gaps
Despite the bill’s momentum, Senator Elizabeth Warren voiced strong opposition to the GENIUS Act. She argued that the legislation lacks essential consumer protections and fails to address key financial safeguards. Warren also criticized the Senate for not voting on bipartisan amendments she believes would strengthen the bill.
She further warned about Trump’s ties to the crypto industry, specifically his connections to World Liberty Financial and the alleged use of digital assets for political and financial gain. Warren said the bill risks enabling corruption by failing to place limits on how digital assets intersect with public office and international money flows.
Path forward uncertain despite bipartisan movement
The GENIUS Act has gained a lot of positive progress, but it is not certain whether the act will gather the required support during the final voting. In the Senate, where the Republicans have a narrow majority, the final decision should rely on the number of Democrats who still support the bill. According to analysts, the bill may become an international model of regulating stablecoins, yet resistance to it within Congress itself is one of the obstacles.
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