According to BlockBeats, on May 22, David Sacks, the White House cryptocurrency and artificial intelligence director, stated that the stablecoin bill will unlock trillions of dollars for the U.S. Treasury.
Yesterday, the U.S. Senate voted to advance the GENIUS stablecoin bill into formal consideration, with at least 15 Democratic senators changing their positions to vote in favor. The bill will enter a comprehensive review process; it has only passed the motion to terminate debate, and the bill itself has not yet been passed. The Senate will next debate and amend the bill.