According to an interview with Senator Lummis by Bloomberg this week, it can be summarized: "There is a divide in the Senate regarding the (Genius Act) this week, with a lot of amendments to handle, and if all goes well, it could pass this week."
About Senator Lummis:
Chair of the Senate Banking Committee's digital assets subcommittee, dubbed the 'Crypto Queen,' is a leader in cryptocurrency.
Senator Lummis, an important advocate of the domain, is also one of the proposers of the (BTC Reserve Act) and the (Genius Stablecoin Act). The BTC Reserve Act was first proposed in 2024 and did not pass in the last Congress. It was reintroduced in March 2025, making her one of the proposers and core supporters of the current federal version of the Bitcoin Reserve Act.
The original text of the Bloomberg interview translated is as follows:
Lummis: We will start voting on the (GENIUS Act), which is the stablecoin bill, this week. I don’t think we can complete it this week. We may have to extend it to next week because there are many amendments to be submitted, but we have been working hard for a long time to gain the support of Democrats so they can vote in favor.
Host: What obstacles do Democrats still face? What concerns did they express to you? What makes them completely unable to support it?
Lummis: We generally agreed to many of the amendments they wanted. Concerns about illegal finance have been addressed with some of these issues, and we’re just waiting to see how the amendments from both sides turn out. As we move forward with the bill, the question is the Durbin-Marshall amendment, which will try to attach to the stablecoin bill. This is not related to stablecoins, but about credit card swipe fees, and this bill could be seen as a tool to attach, which would be a heavy burden to deal with a new topic.
Host: This is controversial for the American people watching and listening right now. What do you think this week or month will look like? Will the bill actually become law?
💥Lummis: Well, we will start voting on it next week. It will create a new market for U.S. Treasury bonds, and it will help protect the U.S. The dollar as the world reserve currency is pegged to the dollar. So in some ways, it’s a payment method. Stablecoins are things that can be used for payments in digital format. This will create more flexibility for the U.S. economy and push us into the 21st century.