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