🚨 BREAKING NEWS: @LeaderJohnThune has filed cloture on the GENIUS Act again with a vote scheduled for Monday evening.

Leader Thune filed cloture on the motion to proceed to Cal. #66, S.1582, GENIUS Act.

The GENIUS Act (S.1582) is a bill to regulate stablecoins, cryptocurrencies tied to the USD. It sets rules for reserves, transparency, and consumer protection. Leader Thune's cloture filing means the Senate is voting to end debate and decide whether to discuss the bill formally. A cloture vote needs 60 senators to pass. The bill has bipartisan support but faces opposition over security, anti-money laundering concerns, and potential burdens on smaller crypto firms. A recent cloture vote failed, showing division. It aims to boost U.S. digital finance but raises concerns about market fairness and illicit finance risks.