US Senate Majority Leader John Thune reportedly informed Republican lawmakers that a bill on stablecoin regulation would be discussed before the May 26 Memorial Day holiday. Thune made these remarks during a closed-door meeting with Republican senators, who have a slight majority in the chamber. The GENIUS Act, introduced by Senator Bill Hagerty in February and approved by the Senate Banking Committee in March, is the focus of the discussion. The proposed bill aims to limit the issuance of payment stablecoins in the US to only 'permitted payment stablecoin issuers.' Additionally, the House of Representatives, under Republican control, has put forth a companion bill called the STABLE Act. President Trump's executive orders, including one related to stablecoins, have prompted legislative action from Republican lawmakers. Concerns have been raised about potential conflicts of interest due to Trump's ties to a crypto firm linked to the launch of a stablecoin. Read more AI-generated news on: https://app.chaingpt.org/news