USStablecoinBill: Senate Update on Stablecoin Regulation
In mid-March, the U.S. Senate’s Genius Act—aimed at regulating stablecoins—cleared the Banking Committee with an 18–6 vote, gaining support from five Democrats. However, nine other pro-crypto Democrats have voiced concerns, citing weak provisions on anti-money laundering and national security.
With 60 votes needed to advance through cloture, bipartisan backing is essential but now uncertain. The situation is further complicated by crypto-related initiatives tied to Trump allies, such as World Liberty Financial’s proposed stablecoin, which has drawn sharp criticism from lawmakers like Senator Elizabeth Warren.
As it stands, regulatory clarity on stablecoins remains in flux, and more amendments to the bill are likely on the horizon.