đ¨ US Senate To Pass Historic GENIUS Act Next Week, Says Senator Bill Hagerty đ¨
As the US Senateâs failure to advance the historic stablecoin bill, the GENIUS Act, has increasingly sparked criticism, Senator Bill Hagerty fuels optimism.
In a recent X post, Hagerty claims that the Senate will pass the bill by next week.
âNext week, the Senate will make history when we pass the GENIUS Act that establishes the first ever pro-growth regulatory framework for payment stablecoins,â states Bill Hagerty.
According to Senator Bill Hagerty, a top proponent of the GENIUS Act, the US Senate is poised to pass the stablecoin bill next week.
Senator Hagertyâs statement comes amid increasing uncertainty surrounding the future of stablecoins in the country.
For instance, pro-XRP lawyer John Deaton raised concerns over the potential delay in the crypto reform until 2029 if the GENIUS Act stalls.
Further, Bill Hagerty underscored the potential benefits of the stablecoin bill.
Hagerty believes that the bill will establish a regulatory framework for payment stablecoins, maintaining the US dollarâs global dominance in the digital economy.
Thus, the bill seeks to safeguard customers and promote trust in digital assets.
In addition, the stablecoin bill could also drive demand for US Treasury securities, supporting the countryâs financial stability.
It also ensures that innovation in this space remains in the hands of US entities, rather than foreign adversaries.
