Weeks after a stablecoin bill stalled over Trump-linked concerns, the Senate advanced the GENIUS Act.
In a 68-30 vote, the US Senate chose to advance the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, more than a month after it was introduced.
Speaking from the Senate floor on Wednesday, Majority Leader John Thune urged members of Congress to support the bill, echoing many of US President Donald Trump’s talking points on digital assets, for example that the legislation would help make the US the “crypto capital of the world.”
A majority of senators, including several Democrats, voted to invoke cloture for the bill, setting it up for debate and a full floor vote before potentially sending it to the House of Representatives for further consideration.
“We want to bring cryptocurrency into the mainstream, and the GENIUS Act will help us do that,” said Thune.
