The U.S. Senate will vote on the GENIUS Act with key amendments

According to Foresight News, the U.S. Senate Majority Leader, John Thune, has officially filed a motion to end debate on the GENIUS Act, with a vote scheduled for May 19. Senate insiders have revealed that the amendments include explicit prohibitions on the misuse of FDIC insurance and enhanced bankruptcy protection clauses to gain bipartisan support. The outcome of this vote will directly influence the regulatory direction of the United States in the digital asset sector.

Previously, Foresight News reported, citing cryptocurrency journalist Eleanor Terrett, that the Senate received bipartisan amendment text for the GENIUS Act concerning stablecoins. According to two informed Senate sources, the amendment introduces new changes in consumer protection, bankruptcy, and ethical considerations.