“The US Senate has supported the promotion of the Genius Act bill that sets the rules for steiblcoins. This was reported by the author of the Initiative Senator-Republican Bill Ginger. Tonight, The Senate Moved Forward on the Genius Act. This gradbreaking, Bipartisan Legislation Will Bring America’s Payment System Into the 21st Century. The Genius Act Skyrockets the United States with A Digital Payment Framework with […]”, – WRITE: Businessua.com.ua
The US Senate has supported the promotion of the Genius Act bill that sets the rules for steiblcoins. This was reported by the author of the Initiative Senator-Republican Bill Ginger.
Tonight, The Senate Moved Forward on the Genius Act. This gradbreaking, Bipartisan Legislation Will Bring America’s Payment System Into the 21st Century.
The Genius Act Skyrockets the United States with A Digital Payment Framework with the Fastest Rails Posible. It will…
– Senator Bill Hagerty (@senatorhagerty) May 20, 2025
The initiative was supported by 66 senators, 32 opposed. Voting became an intermediate stage before the potential adoption of the law.
Genius Act implies that each steiblcoin should be provided with US dollars or other highly liquid assets. A compulsory annual audit is introduced for issuers with market capitalization. The document also contains separate requirements for foreign companies.
According to Ginger, the new law will help the US to maintain the dominance of the dollar and modernize the payment infrastructure. It is expected that its implementation stimulates demand for state bond and will promote the development of innovation in digital finances.
The bill received two -party support – 16 Democrats joined the vote, although in the preliminary voting the faction opposed the initiative.
Senator Syntia Lamimis emphasized that digital assets are the future of finance, and the adoption of Genius Act will strengthen the US position in the industry.
Senator Elizabeth Warren criticized the document. In her opinion, the authors ignored the risks of political influence by President Donald Trump and opened the way to launch new steiblcoins without proper control.
I’m on the Senate Floor Right Now URGING MY COLLEAGES TO VETE NO ON THE GENIUS ACT.
There is no excuse for congrace to pass a crypto bill that Will Turbocharge Trump’s Corruption. https://t.co/qb8wwwq6pua
– Elizabeth Warren (@senwarren) May 19, 2025
According to Stand with Crypto group, on the eve of the voting, fans of cryptocurrencies sent more than 60,000 letters to senators calling for the law.
News: Stand with Crypto’s Mason Lynaugh Says Advocates Sent More More 60k (!) Emails to Lawmakers Ahead of Tonight’s Senate Vote on Stablecoin Legislation. He adds they will “Remember The Lawmakers Who Have Our Backs” as Swc Moves to Incorporate The Pote Into Politicians’ Grades. … …
– Eleanor Mueller (@eleanor_mueller) May 20, 2025
Recall that in the United States want to ban the officials of cryptocurrency.
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