#USStablecoinBill

The U.S. Senate is gearing up to vote on groundbreaking legislation that could establish federal regulations for stablecoin issuers, marking a significant milestone in crypto regulation. This would be the first time the Senate considers a major cryptocurrency bill.

Senate Majority Leader John Thune, a Republican from South Dakota, has initiated efforts to fast-track the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This bill is the Senate's counterpart to similar legislation advancing in the House of Representatives. Thune’s move aims to minimize delays and expedite the process, though the exact date for the Senate vote remains uncertain. Notably, the Senate Banking Committee had already approved the bill with a strong bipartisan vote of 18-6, and the House Financial Services Committee advanced its version in April.