On May 9, PANews reported that Coinbase CEO Brian Armstrong stated that the U.S. Senate's first vote on stablecoin legislation is the "first round of negotiations," with a new round of voting expected early next week. He pointed out that the clause in the bill that "prohibits interest earnings on stablecoins" needs to be amended, emphasizing that the GENIUS bill could ultimately approach presidential signing with bipartisan support. Armstrong noted that "52 million American voters holding crypto assets are closely watching."