Stablecoin Bill: GENIUS Act Heads For Cloture Vote on May 19
The United States Senate is preparing for a crucial vote on the Stablecoin Bill, dubbed the GENIUS Act, this coming Monday. After several delays, the bill is finally moving forward with a ‘cloture vote’ scheduled by Senate Majority Leader John Thune.
In her latest post on X, American Journalist Eleanor Terrett reported that Senator Thune had officially filed for cloture on the GENIUS Act, setting the vote for May 19.
This move signals a final push by lawmakers to bring the legislation to the floor after a series of back-and-forth debates.
According to Senate sources, a bipartisan amendment is also under review. The discussed changes include stricter rules for tech companies involved in financial assets, better consumer protection, and tighter oversight of government officials, including figures like Elon Musk.
They also include clearer rules to prevent the misuse of FDIC insurance and reinforce bankruptcy protections.
These updates could help the bill gain broader support across both parties.
The vote will determine whether the Senate is ready for digital asset legislation that balances financial innovation with accountability.
