The stablecoin market may experience significant volatility due to the decision on the GENIUS Act if it is passed on May 19, 2025 (US time).

The U.S. Senate is preparing to vote on the GENIUS Act (the Act to Issue and Protect Guaranteed Electronic USD) on May 19, 2025.

The Senate will make history when they pass the GENIUS Act - the first regulatory framework aimed at promoting growth for stablecoins - Senator Hagerty asserted in a post on platform X last Friday. He emphasized, "This bill will strengthen the dominance of the U.S. dollar, protect consumers, increase demand for U.S. Treasury bonds, and ensure that innovation in the digital asset space remains in the hands of the United States."

The global stablecoin market is currently valued at over $246 billion, with Tether's USDT ($151 billion) and Circle's $63,272,973,205 ($61 billion) and a host of stablecoin issuers like USDO of $64,790,299,996... These tokens, pegged at 1:1 with fiat currency, are essential for traders, institutions, and fintech innovators. Tether and Circle do not redistribute profits to the community, while usual allocates 90% of value to users!

The GENIUS Act may or may not be passed, and the results will be known after May 19, 2025.

To pass, the Senate needs 60 votes. As of May 17, 2025, the composition of the chamber is:

Democratic Party (including Independents): 51 seats

Republican Party: 49 seats

Wishing the coin community good luck.

(Note: This article should not be considered investment advice and does not take responsibility for any decisions related to those decisions.)