Senate to Vote on GENIUS Stablecoin Bill Before Memorial Day
- The Senate will vote on the GENIUS Act before Memorial Day.
- The bill has bipartisan support and passed the Senate Banking Committee with an 18-6 vote.
- Introduced by Senator Bill Hagerty, it aims to regulate stablecoins tied to fiat currencies like the US dollar.
- The legislation mandates reserve requirements, anti-money laundering protocols, and consumer protection measures.
- President Trump urged Congress to pass this legislation for economic growth and US dollar strength.
The Senate is set to vote on the GENIUS Act before Memorial Day, marking a significant step toward regulating stablecoins. The bill, which cleared the Senate Banking Committee by an 18-6 vote, includes measures for reserve requirements and consumer protection.
Source (2.6)https://cryptobriefing.com/stablecoin-regulation-vote-senate/?rand=59535
