#USStablecoinBill The U.S. Senate is working on the GENIUS Act, which aims to establish federal regulations for stablecoin issuers. The bill, introduced by Senators Bill Hagerty and Kirsten Gillibrand, has received bipartisan support but faces challenges. A group of nine Senate Democrats withdrew their support due to concerns over anti-money laundering, national security, and accountability.

The bill’s connection to Trump-affiliated entities has added complexity, with some Democrats calling for revisions. Despite opposition, Senate Majority Leader John Thune is pushing to expedite the vote. Meanwhile, the House is considering the STABLE Act,a similar bill that has passed the House Financial Services Committee.

These developments are crucial as they shape the future of digital asset regulation in the U.S.