🚨🇺🇸US SENATE TO #VOTE ON GENIUS STABLECOIN BILL THIS THURSDAY
Bill Name: GENIUS Act
🔹 Provision: Requires stablecoins to be fully backed by U.S. dollars or short-term Treasuries
🔹Vote : Thursday, with 60 votes needed to advance
🔹Supporters: Led by Sen. Bill Hagerty (R); GOP holds 53 seats
Opposition:
🔹Democrats: Concerned about foreign issuers & anti-money laundering gaps
🔹Some Republicans: Criticize overregulation & tech firm influence
🔹Political Context: Debate fueled by Trump’s crypto ties drawing scrutiny from Senate Democrats
-The Block