The U.S. Senate will vote on the updated stablecoin regulation bill
According to BlockBeats, the U.S. Senate is scheduled to conduct 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 overnight negotiations and last-minute text updates between Senate Republicans and Democrats, setting the stage for a controversial 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 dominance of the U.S. dollar in the global financial system.
