Senate Advances GENIUS Act: U.S. Stablecoin Bill Passes Key Vote
Senate Stablecoin Bill Passes Key Vote as GENIUS Act Regains Momentum
Washington, D.C. — In a dramatic reversal of fortune, the long-anticipated GENIUS Act — a groundbreaking bill designed to regulate stablecoins in the United States — has passed a critical Senate cloture vote, setting the stage for full floor consideration within days. The bill, which failed to pass a similar procedural vote just under two weeks ago, now appears to be on a fast track toward becoming law.
Cloture Vote Passes with Bipartisan Support
On Monday evening, the U.S. Senate voted in favor of cloture on the GENIUS Act, overcoming a major hurdle that had previously stymied progress. The bill, which sets forth a legal framework for the issuance and regulation of stablecoins, garnered support from more than 60 senators, easily clearing the 60-vote threshold required to advance the legislation.
Notably, several key Democratic lawmakers who had previously voted against the bill reversed their positions. Senators Ruben Gallego (D-AZ), Mark Warner (D-VA), Lisa Blunt Rochester (D-PA), Kirsten Gillibrand (D-NY), and Angela Alsobrooks (D-MD) all shifted to support the measure. Both Gillibrand and Alsobrooks were original co-sponsors of the bill, underscoring the internal political dynamics that had complicated the legislation's initial path forward.
The GENIUS Act: A Turning Point for Crypto Regulation
If signed into law, the GENIUS Act would provide a long-awaited regulatory foundation for stablecoins — digital tokens typically pegged to the U.S. dollar that offer a bridge between traditional fiat currencies and the rapidly evolving world of crypto assets. These tokens enable seamless entry and exit from digital trades, international remittances, and more efficient cross-border payments.
Wall Street and institutional investors have watched the bill’s progress closely. Regulatory clarity around stablecoins could unleash billions, if not trillions, of dollars into the crypto ecosystem. Analysts anticipate that financial giants who have previously held back due to legal ambiguity may now enter the space in force.
What Changed: From Failure to Full Momentum
The GENIUS Act's resurgence is the result of a series of rapid political and strategic shifts. Senate Democrats introduced a revised version of the bill last week, touting key concessions from Republicans. These included provisions addressing national security, ethical concerns, and Big Tech accountability — areas that had previously drawn sharp criticism from within the Democratic Party.
Among the most significant updates is a clause that bars senior executive branch officials from launching personal stablecoin projects — a direct response to allegations of crypto conflicts of interest involving President Donald Trump. However, critics were quick to point out a glaring loophole: the exclusion does not apply to the president or vice president, leaving a major concern unresolved.
Another major revision involves Big Tech. The new draft prohibits tech companies from launching stablecoins if they are found to be tracking and monetizing users' sensitive financial data, unless users have given explicit consent. This clause was designed to balance innovation with consumer protection, but its enforceability remains under debate.
Industry Pressure Reaches New Heights
While legislative revisions played a pivotal role, industry lobbying appears to have been the final tipping point. In the days leading up to the vote, leading crypto firms intensified pressure on lawmakers. Coinbase, the largest U.S. cryptocurrency exchange, shifted from a cautious approach to full-scale advocacy for the GENIUS Act.
Coinbase CEO Brian Armstrong publicly called for the immediate passage of the bill. Meanwhile, Stand With Crypto — a Coinbase-backed advocacy group — issued strong warnings to lawmakers that opposing the bill could hurt their political ratings. The group’s grading system is closely watched by pro-crypto constituents and could influence campaign donations.
Coinbase even leveraged its app to mobilize users, sending out notifications urging Americans to contact their senators in support of the bill. The campaign appeared to have a tangible effect, particularly on lawmakers from swing states and those with strong crypto constituencies.
The Road Ahead: House Vote and Presidential Approval
With the cloture vote cleared, the GENIUS Act now advances to a full Senate floor vote, which could occur as soon as Tuesday, according to a Senate insider speaking with Decrypt. Given the wide margin of support during the procedural vote, advocates are optimistic that the final Senate vote will yield a similar outcome.
Afterward, the bill will move to the House of Representatives. While the House has been somewhat more fragmented on crypto regulation, early indications suggest that the GENIUS Act has a viable path to passage there as well. Should it succeed, it will then be sent to President Trump for final approval — a potentially contentious step, given the ethical controversies surrounding his past crypto associations.
What This Means for the Crypto Industry
The passage of the GENIUS Act could mark a watershed moment for the American crypto sector. Stablecoin regulation has been a top priority for industry leaders, seen as a necessary precursor to wider institutional adoption and long-term market stability.
Beyond mere compliance, the bill could encourage responsible innovation by offering clear legal guardrails for developers, exchanges, and financial institutions. Analysts believe that the GENIUS Act could trigger a domino effect of investment, development, and public trust in the broader crypto market.
Moreover, this legislative momentum could breathe new life into broader crypto regulation efforts, many of which have languished in Congress for years. With the GENIUS Act now back in motion, there is renewed hope that comprehensive digital asset laws might finally gain traction.
Conclusion: A Historic Week for Crypto Legislation
The GENIUS Act’s unexpected turnaround and successful cloture vote mark a pivotal moment in the journey toward stablecoin regulation in the United States. With bipartisan support, industry momentum, and revised ethical safeguards, the bill now stands a strong chance of becoming law in the coming days.
As the full Senate vote looms and the House prepares for its own deliberations, the eyes of the global financial community are firmly fixed on Capitol Hill. Whether the GENIUS Act becomes the first domino in a broader regulatory shift remains to be seen — but for now, the crypto industry has reason to be optimistic.
Stay tuned for updates as the GENIUS Act moves closer to final passage and potential signing into law.
$BTC $BNB $ETH
#GENIUSAct #BinanceAlphaAlert
Washington, D.C. — In a dramatic reversal of fortune, the long-anticipated GENIUS Act — a groundbreaking bill designed to regulate stablecoins in the United States — has passed a critical Senate cloture vote, setting the stage for full floor consideration within days. The bill, which failed to pass a similar procedural vote just under two weeks ago, now appears to be on a fast track toward becoming law.
Cloture Vote Passes with Bipartisan Support
On Monday evening, the U.S. Senate voted in favor of cloture on the GENIUS Act, overcoming a major hurdle that had previously stymied progress. The bill, which sets forth a legal framework for the issuance and regulation of stablecoins, garnered support from more than 60 senators, easily clearing the 60-vote threshold required to advance the legislation.
Notably, several key Democratic lawmakers who had previously voted against the bill reversed their positions. Senators Ruben Gallego (D-AZ), Mark Warner (D-VA), Lisa Blunt Rochester (D-PA), Kirsten Gillibrand (D-NY), and Angela Alsobrooks (D-MD) all shifted to support the measure. Both Gillibrand and Alsobrooks were original co-sponsors of the bill, underscoring the internal political dynamics that had complicated the legislation's initial path forward.
The GENIUS Act: A Turning Point for Crypto Regulation
If signed into law, the GENIUS Act would provide a long-awaited regulatory foundation for stablecoins — digital tokens typically pegged to the U.S. dollar that offer a bridge between traditional fiat currencies and the rapidly evolving world of crypto assets. These tokens enable seamless entry and exit from digital trades, international remittances, and more efficient cross-border payments.
Wall Street and institutional investors have watched the bill’s progress closely. Regulatory clarity around stablecoins could unleash billions, if not trillions, of dollars into the crypto ecosystem. Analysts anticipate that financial giants who have previously held back due to legal ambiguity may now enter the space in force.
What Changed: From Failure to Full Momentum
The GENIUS Act's resurgence is the result of a series of rapid political and strategic shifts. Senate Democrats introduced a revised version of the bill last week, touting key concessions from Republicans. These included provisions addressing national security, ethical concerns, and Big Tech accountability — areas that had previously drawn sharp criticism from within the Democratic Party.
Among the most significant updates is a clause that bars senior executive branch officials from launching personal stablecoin projects — a direct response to allegations of crypto conflicts of interest involving President Donald Trump. However, critics were quick to point out a glaring loophole: the exclusion does not apply to the president or vice president, leaving a major concern unresolved.
Another major revision involves Big Tech. The new draft prohibits tech companies from launching stablecoins if they are found to be tracking and monetizing users' sensitive financial data, unless users have given explicit consent. This clause was designed to balance innovation with consumer protection, but its enforceability remains under debate.
Industry Pressure Reaches New Heights
While legislative revisions played a pivotal role, industry lobbying appears to have been the final tipping point. In the days leading up to the vote, leading crypto firms intensified pressure on lawmakers. Coinbase, the largest U.S. cryptocurrency exchange, shifted from a cautious approach to full-scale advocacy for the GENIUS Act.
Coinbase CEO Brian Armstrong publicly called for the immediate passage of the bill. Meanwhile, Stand With Crypto — a Coinbase-backed advocacy group — issued strong warnings to lawmakers that opposing the bill could hurt their political ratings. The group’s grading system is closely watched by pro-crypto constituents and could influence campaign donations.
Coinbase even leveraged its app to mobilize users, sending out notifications urging Americans to contact their senators in support of the bill. The campaign appeared to have a tangible effect, particularly on lawmakers from swing states and those with strong crypto constituencies.
The Road Ahead: House Vote and Presidential Approval
With the cloture vote cleared, the GENIUS Act now advances to a full Senate floor vote, which could occur as soon as Tuesday, according to a Senate insider speaking with Decrypt. Given the wide margin of support during the procedural vote, advocates are optimistic that the final Senate vote will yield a similar outcome.
Afterward, the bill will move to the House of Representatives. While the House has been somewhat more fragmented on crypto regulation, early indications suggest that the GENIUS Act has a viable path to passage there as well. Should it succeed, it will then be sent to President Trump for final approval — a potentially contentious step, given the ethical controversies surrounding his past crypto associations.
What This Means for the Crypto Industry
The passage of the GENIUS Act could mark a watershed moment for the American crypto sector. Stablecoin regulation has been a top priority for industry leaders, seen as a necessary precursor to wider institutional adoption and long-term market stability.
Beyond mere compliance, the bill could encourage responsible innovation by offering clear legal guardrails for developers, exchanges, and financial institutions. Analysts believe that the GENIUS Act could trigger a domino effect of investment, development, and public trust in the broader crypto market.
Moreover, this legislative momentum could breathe new life into broader crypto regulation efforts, many of which have languished in Congress for years. With the GENIUS Act now back in motion, there is renewed hope that comprehensive digital asset laws might finally gain traction.
Conclusion: A Historic Week for Crypto Legislation
The GENIUS Act’s unexpected turnaround and successful cloture vote mark a pivotal moment in the journey toward stablecoin regulation in the United States. With bipartisan support, industry momentum, and revised ethical safeguards, the bill now stands a strong chance of becoming law in the coming days.
As the full Senate vote looms and the House prepares for its own deliberations, the eyes of the global financial community are firmly fixed on Capitol Hill. Whether the GENIUS Act becomes the first domino in a broader regulatory shift remains to be seen — but for now, the crypto industry has reason to be optimistic.
Stay tuned for updates as the GENIUS Act moves closer to final passage and potential signing into law.
$BTC $BNB $ETH
#GENIUSAct #BinanceAlphaAlert
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