#USStablecoinBill The Stablecoin Bill in the USA Faces Challenges Ahead of Voting

The proposed stablecoin bill in the U.S. Senate, known as **GENIUS BILL**, is encountering significant hurdles as it approaches a critical vote. Introduced by Senator Bill Hagerty (R-TN) and co-sponsored by Senator Kirsten Gillibrand (D-NY), the bill aims to regulate stablecoin issuers with federal oversight, including reserve requirements and Federal Reserve supervision for larger institutions.

However, the momentum for the bill has slowed, as nine Democratic senators who previously supported it have withdrawn their backing. Concerns regarding anti-money laundering (AML) regulations, implications for national security, and inadequate oversight of foreign stablecoin issuers, such as Tether, have led to this retreat in support. Without this backing, the bill now faces significant challenges in passing through the Senate.