#GENIUSActPass US Senate approves GENIUS stablecoin bill in 68-30 vote
The bill was passed without amendments to address Donald Trump's connections to the stablecoin from World Liberty Financial, something many Democrats had been calling for.
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The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, is one step closer to becoming law in the US after the US Senate voted to approve a revised version of the bill.
In a 68 to 30 vote on Tuesday, the majority of the US Senate decided to approve the GENIUS Act about six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The complementary bill, the STABLE Act, may be reviewed in the House of Representatives, where it could receive additional amendment proposals.
"With this bill, the United States is one step closer to becoming global leaders in cryptocurrency," Hagerty said in the Senate before Tuesday's vote, adding: "Once the GENIUS Act is passed, businesses of all sizes and Americans across the country will be able to settle payments almost instantly, rather than waiting days or sometimes even weeks.