According to BlockBeats, the U.S. Senate is scheduled to hold a procedural vote on the updated version of the stablecoin regulation bill, known as the 'GENIUS Act,' at 1:45 PM Eastern Time (1:45 AM UTC+8). The vote follows late-night negotiations and last-minute text updates between Senate Republicans and Democrats, setting the stage for a contentious decision.
Previously reported by BlockBeats, the 'GENIUS Act,' or the 'Guidance and Establishment of National Innovation in U.S. Stablecoins Act,' was introduced in the Senate on February 4, 2025. The legislation aims to establish a comprehensive regulatory framework for 'payment stablecoins' within the United States. Its objectives include promoting financial innovation, protecting consumers, preventing illicit financial activities, and reinforcing the U.S. dollar's dominance in the global financial system.