#Trump100Days Senate Majority Leader John Thune informed Republican lawmakers about the upcoming vote on the GENIUS Act, a key piece of legislation aimed at regulating stablecoins, before the Memorial Day recess on May 26. Introduced by Senator Bill Hagerty in February and passed by the Senate Banking Committee in March, this law requires stablecoin issuers to be licensed entities, referred to as "permitted payment stablecoin issuers."

The GENIUS Act is designed to provide the clarity and structure necessary for the stablecoin market. Alongside GENIUS, the STABLE Act has been introduced in the House controlled by Republicans. Together, these two bills establish clear guidelines for the issuance of USD-pegged stablecoins.