The U.S. Senate is making significant strides toward establishing a regulatory framework for stablecoin issuers, marking a historic move as lawmakers consider one of the first major crypto-focused bills in the chamber.#stable-traders 
Senate Majority Whip John Thune (R-S.D.) has initiated steps to fast-track the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, aiming to bring clarity and consistency to stablecoin regulations across the country. This legislation is the Senate’s counterpart to similar efforts already underway in the House of Representatives, signaling bipartisan momentum in both chambers.
The GENIUS Act seeks to accelerate the development of digital asset innovation within the U.S., while ensuring consumer protection and fair competition, especially from foreign companies entering the market.
While the exact timing for a full Senate vote remains uncertain, the proposal cleared a key hurdle earlier, passing the Senate Banking Committee with broad bipartisan support in an 18-6 vote. A parallel bill was also recently approved by the House Financial Services Committee in April, underscoring the growing urgency among lawmakers to establish clear crypto guidelines.
Senator Bill Hagerty (R-Tenn.), the primary sponsor of the bill, emphasized its importance in a recent statement:
“I look forward to passing the GENIUS Act in short order to keep digital asset innovation in America, protect customers, and make sure foreign companies are playing by the same rules.”
The legislation also has the support of Senator Tim Scott (R-S.C.), Chairman of the Senate Banking Committee.
Adding to the bill's momentum, Bo Hines — Executive Director of the Presidential Council of Advisers for Digital Assets and a key crypto advisor to President Donald Trump — noted in an interview with CoinDesk that the House and Senate versions of the bill are approximately 90% aligned. He expressed optimism that lawmakers from both sides are actively working to reconcile the remaining differences.#USStablecoinBill
