The U.S. Senate passed a procedural motion (cloture) on the amendment to the "GENIUS Stablecoin Act" with a vote of 68 to 30, paving the way for a final vote as early as next Monday, unless the two parties reach an agreement to shorten the debate time. Previously, the Senate attempted to advance the bill in May but was unsuccessful, and about a week later, passed the procedural motion again with a vote of 66 to 32. The bill requires stablecoins to be fully backed by U.S. dollars or equivalent high-liquidity assets and mandates annual audits for issuers with a market capitalization exceeding $50 billion. (The Block)