#GENIUSAct



White House debates the law on stablecoins (Image: Pixabay)

After failing in the first attempt to gain more ground in the United States Senate, the GENIUS Act bill, which regulates the stablecoin segment in the country, managed to advance in the Legislative House.

In a second vote, U.S. senators approved the so-called cloture — a procedural maneuver in the Legislative Houses that paves the way for voting on a topic with broader debates — by 66 votes in favor to 32 against.

Thus, after the cloture vote, lawmakers need to vote on amendments to the bill and take steps to obtain a final vote on the bill.

The Guiding and Establishing National Innovation for U.S. Stablecoins Act, or simply the GENIUS Act, is a document that establishes some guidelines for stablecoins. Although it is a bill tied to the Republican agenda, the expansion of debates received support from Democrats.