Stablecoin Regulation Nears RealityThe U.S. #GeniusAct Senate voted 66-32 on May 19, 2025, to advance the GENIUS Act, a landmark bill regulating stablecoins—cryptocurrencies pegged to assets like the U.S. dollar. After a failed vote on May 8 due to Democratic concerns over consumer protections and Trump family crypto ties, revised text with stronger safeguards flipped 16 Democrats, including Sens. Ruben Gallego and Mark Warner, to support it. The bill, now set for a full Senate vote soon, requires stablecoin issuers to hold 1:1 reserves (e.g., Treasury bills), comply with anti-money-laundering laws, and prioritize consumers in bankruptcy. Critics like Sen. Elizabeth Warren warn it could benefit Trump’s ventures and weaken oversight, while supporters like Sens. Bill Hagerty and Cynthia Lummis hail it as a boost for U.S. dollar dominance and innovation. If passed, it heads to the House, potentially becoming law by August 2025.
Impact for $LUNC, $PEPE, $BONK: Clear stablecoin rules could stabilize crypto markets, boosting altcoins. $LUNC’s burn and $PEPE/$BONK’s meme hype may ride this wave, but volatility remains—sell strategically, as you noted. Thoughts on trading these with GENIUS Act news?