#Novedades The U.S. stablecoin bill is updated ahead of the Senate banking committee vote

The U.S. Senate Banking Committee is set to vote on March 13 on a stablecoin bill.

The U.S. Senate Banking Committee is expected to vote on March 13 on a stablecoin bill led by Republicans, after it was updated following consultations with the committee's Democrats.

Republican Senator Bill Hagerty, one of the bill's co-sponsors, stated on March 10 that he had submitted an update to the U.S. Stablecoins National Innovation and Establishment Guidance Act (GENIUS), which would be put to a vote in the Banking Committee on March 13.

He added that the updated bill was subject to bipartisan consultations. The bill is co-sponsored by Republican Senators Cynthia Lummis and Tim Scott, who also chairs the Banking Committee, along with Democrats Kirsten Gillibrand and Angela Alsobrooks.

"The updated version of the GENIUS Act introduces significant improvements in a number of important provisions, such as consumer protection, authorized stablecoin issuers, risk mitigation, state pathways, insolvency, transparency, and much more," Gillibrand said in a statement.