GENIUSBill

The U.S. Senate is currently in the midst of intense discussions. On the agenda is the GENIUS Act – an ambitious bill that has evolved from a low-profile proposal into a major political issue. Senators are now reviewing more than 60 proposed amendments, indicating the bill's significant impact and wide interest from both parties.

🔹 Amendment Marathon: Bipartisan Compromise Is Key
According to respected journalist Eleanor Terrett on X (formerly Twitter), both Republicans and Democrats are working to shorten the extensive list of changes. The more than 60 amendments are now at the heart of complex negotiations. If lawmakers fail to reach an agreement soon, the bill’s path forward could be delayed until next week due to procedural hurdles.
However, the goal is to avoid such delays. Lawmakers know that swift approval could open the door for other key initiatives. That’s why they're now racing against time.

🔹 A Bill Once Overlooked Is Now Center Stage
Until recently, the GENIUS Act received little public attention. But with mounting negotiations, it’s clear this legislation is significant enough to garner strong bipartisan interest.
While the specific content of the proposed amendments has not been disclosed, the sheer number suggests that the bill touches on critical issues. A bipartisan agreement is essential – without it, the Senate may stall in extended debates.

🔹 Is Crypto Quietly Driving Momentum?
Though not openly discussed, the growing support for crypto-related initiatives – such as the recent Bitcoin ETF application from Truth Social – may be part of the reason the GENIUS Act is gaining momentum. This legislation could play a vital role in shaping the future regulatory landscape.
Without progress, however, the bill risks getting lost in procedural gridlock, potentially delaying other legislative priorities.

🔹 The Clock Is Ticking. Tensions Are Rising.
According to Terrett, things on Capitol Hill can change quickly – if lawmakers strike a deal, everything could speed up within hours. Otherwise, delays are inevitable. Behind closed doors, congressional staffers and lawmakers are likely working overtime to find a middle ground.
The GENIUS Act may soon become a key legislative milestone for the U.S., especially in the realms of technology and finance. The outcome of these negotiations will not only influence the bill’s fate, but also determine how fast the U.S. can adapt its laws to meet the challenges of tomorrow.

#GENIUSBill , #USGovernment , #USPolitics , #Stablecoins , #BTC

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Four leading U.S. crypto advocacy organizations are urging the Senate to swiftly pass the GENIUS bill, which aims to establish clear regulations for stablecoins in the United States. They warn that political infighting over unrelated amendments, particularly those regarding credit card fees, could delay or derail the legislation.

🧩 What Is the GENIUS Bill?
The GENIUS Act (short for Governance and Innovation for U.S. Stablecoins) is designed to create a comprehensive regulatory framework for stablecoins—cryptocurrencies pegged to fiat currencies like the U.S. dollar. The bill already passed a procedural vote in the Senate on May 19 and is awaiting approval in the House of Representatives.

📣 Crypto Lobby: Don’t Derail the Bill
Organizations such as the Blockchain Association, Crypto Council for Innovation, Digital Chamber, and DeFi Education Fund issued a joint statement on June 2, urging lawmakers to pass the bill without unrelated additions.
They emphasized the importance of staying focused on the bill’s original goal: to deliver clear and targeted oversight for stablecoins, rather than complicating it with unrelated political battles.

💳 Controversy: Credit Cards vs. Crypto?
Tensions rose when Senators Dick Durbin and Roger Marshall proposed attaching a credit card competition bill to GENIUS. This legislation seeks to regulate merchant processing fees and increase competition among major payment networks like Visa, Mastercard, and American Express.
The proposal met strong resistance from banks and card networks, who view it as government overreach. Meanwhile, crypto supporters warn that such amendments distract from the original purpose and could jeopardize the entire bill.

🧨 Other Controversial Additions?
According to journalist Eleanor Terrett, additional proposed amendments include:
🔹 Restrictions on stablecoin issuers with Chinese or foreign ownership

🔹 Disclosure requirements for government officials with stablecoin holdings

🔹 Guardrails against influence from crypto projects linked to the Trump family

🔹 Updates to anti-money laundering and Bank Secrecy Act regulations
All of these proposals threaten to delay final voting, which may now be pushed back to June 9 due to procedural complications.

🔍 Hope Remains, But Time Is Ticking
Despite rising political tension, crypto advocates remain hopeful that the GENIUS bill will pass in time and finally bring regulatory clarity to the U.S. stablecoin market. They argue the framework is crucial for consumer protection, innovation, and global competitiveness in the digital asset space.

#GENIUSBill , #stablecoin , #crypto , #Regulation , #CryptoInnovation

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“