The US stablecoin bill is expected to be voted on in the Senate as early as next week, with supporters claiming it will be "recorded in history."

GateUser-6433627c · 2025-05-16T22:56:55+00:00

The U.S. Senate is about to vote on the "Stablecoin Innovation and Establishment Act," which supporters claim will go down in history. Mentioning Senators Bill Hagerty and Kirsten Gillibrand, the bill aims to establish a regulatory framework for payment stablecoins, emphasizing consumer protection. The draft excludes large companies like Meta from issuing stablecoins. The bill needs to pass with 60 votes before formal debates begin and ultimately become law after being signed by President Trump.

GateUser-6433627c

2025-05-16 22:56:55

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The Stablecoin National Innovation Guidelines and Establishment Act (GENIUS Act), promoted by Senators Bill Hagerty and Kirsten Gillibrand, is expected to be debated and passed in the Senate as soon as next week. “Next week, the Senate will go down in history as we debate and pass the GENIUS Act, which will establish the first growth-friendly regulatory framework for payment stablecoins,” Hagerty said. Gillibrand called “the development of the bill a true bipartisanship,” stressing that it incorporates “strong consumer protections.” Despite previously failing to pass the “motion to terminate debate” vote, the bill has entered the latest draft stage, with adjustments made to address Democrats’ concerns about consumer protection and national security. The draft clearly states that large publicly traded companies like Meta will not be approved to issue stablecoins. The Senate will vote again next Monday, requiring 60 votes to officially begin debate. The House is also advancing its own version, and the final version will need to be integrated and signed into law by President Trump.

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