#GENIUSActPass

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Turner Wright

7 hours ago

US Senate approves GENIUS stablecoin bill in 68-30 vote

The bill was approved without amendments to address Donald Trump's connections to the World Liberty Financial stablecoin, something many Democrats had been calling for.

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The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, is one step closer to becoming law in the US after the US Senate voted to approve a modified version of the bill.

In a vote of 68 to 30 on Tuesday, the majority of the US Senate decided to approve the GENIUS Act about six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The complementary bill, the STABLE Act, may be reviewed in the House of Representatives, where it may receive additional amendment proposals.

"With this bill, the United States is one step closer to becoming global leaders in cryptocurrency," Hagerty said in the Senate before the Tuesday vote, adding: "Once the GENIUS Act is passed, businesses of all sizes and Americans across the country will be able to settle payments almost instantly, rather than waiting days or sometimes even weeks."