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US Senate Advances GENIUS Act: Major Boost to Crypto and Stablecoin Regulation – Crypto News
After a prolonged political battle, the Senate successfully advanced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025 on Monday night. If the landmark stablecoin bill clears final hurdles, it will rewrite crypto history in America, establishing the first comprehensive framework for stablecoin regulation. Despite political pushback, the bill secured a 66-32 procedural vote on Monday night. Multiple Democrats reportedly voted in favour after amendments to address ethical concerns. Political Backlash Against the GENIUS Act Despite the introduction as a bipartisan bill, the GENIUS Act faced several political challenges. The Democrats protested alleged conflicts and corruption involving President Donald Trump and his family’s crypto empire. Notably, the Trump family-backed World Liberty Foundation’s (WLF) USD1 stablecoin became the centre of political battle, with critics alleging potential conflicts of interest. Earlier this month, the US Senate failed to advance the stablecoin bill in a key procedural vote, with… Read More at Coingape.com
The post US Senate Advances GENIUS Act: Major Boost to Crypto and Stablecoin Regulation appeared first on CoinGape.
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