{"id":849196,"date":"2025-05-18T09:11:47","date_gmt":"2025-05-18T14:11:47","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/18\/genius-act-vote-on-may-19-will-the-u-s-finally-regulate-stablecoins\/"},"modified":"2025-05-18T09:11:47","modified_gmt":"2025-05-18T14:11:47","slug":"genius-act-vote-on-may-19-will-the-u-s-finally-regulate-stablecoins","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/18\/genius-act-vote-on-may-19-will-the-u-s-finally-regulate-stablecoins\/","title":{"rendered":"GENIUS Act Vote on May 19: Will the U.S. Finally Regulate Stablecoins?"},"content":{"rendered":"<div role=\"main\" id=\"main-content-row\">\n<article id=\"the-post\" data-post-url=\"https:\/\/coinpedia.org\/news\/genius-act-vote-on-may-19-will-the-u-s-finally-regulate-stablecoins\/\" data-post-title=\"GENIUS Act Vote on May 19: Will the U.S. Finally Regulate Stablecoins?\" data-post-edit=\"https:\/\/coinpedia.org\/wp-admin\/post.php?post=457226&#038;action=edit\">\n<div>\n<figure><img width=\"1200\" height=\"628\" src=\"https:\/\/image.coinpedia.org\/wp-content\/uploads\/2025\/05\/12203455\/Stablecoins-to-Hit-3.7-Trillion-by-2030-Says-Citi-Bank.webp\" alt=\"Stablecoins to Hit $3.7 Trillion by 2030, Says Citi Bank\" data-main-img=\"1\" decoding=\"async\" fetchpriority=\"high\"  ><\/figure>\n<\/div>\n<div>\n<p>The U.S. Senate is preparing to vote on the <strong>GENIUS Act (Guaranteed Electronic USD Issuance and Safeguards Act)<\/strong> on <strong>May 19, 2025<\/strong>. The bipartisan bill, co-sponsored by Senator Bill Hagerty (R-TN) and Senator Kirsten Gillibrand (D-NY), aims to establish the <strong>first-ever regulatory framework for payment stablecoins<\/strong> in the United States.<\/p>\n<h2 id=\"h-hagerty-eyes-bipartisan-breakthrough\"><strong>Hagerty Eyes Bipartisan Breakthrough<\/strong><\/h2>\n<p>Senator Hagerty remains optimistic despite the bill\u2019s rocky journey. On <strong>May 8<\/strong>, the GENIUS Act fell short of the <strong>60-vote threshold<\/strong> required for cloture\u2014<strong>only 48 senators voted in favor<\/strong>, while <strong>49 opposed<\/strong>. Concerns from Democrats included:<\/p>\n<ul>\n<li>Weak anti-money laundering (AML) measures<\/li>\n<li>Lack of oversight on <strong>foreign-issued stablecoins<\/strong><strong><br \/><\/strong><\/li>\n<li>Insufficient consumer protection mechanisms<\/li>\n<\/ul>\n<p>In response, <strong>bipartisan negotiations have led to key amendments<\/strong>. FOX Business reporter <strong>Eleanor Terrett<\/strong> confirmed on X that the revised version includes:<\/p>\n<ul>\n<li>Enhanced <strong>customer safeguards<\/strong><strong><br \/><\/strong><\/li>\n<li>Clearer <strong>bankruptcy protection for stablecoin holders<\/strong><strong><br \/><\/strong><\/li>\n<li>Ethical restrictions, <strong>barring Big Tech firms (like Meta, Google) and individuals like Elon Musk from issuing stablecoins<\/strong><strong><br \/><\/strong><\/li>\n<\/ul>\n<p>These additions aim to win support from cautious lawmakers and ensure the bill aligns with investor protection and national security goals.<\/p>\n<h3 id=\"h-stablecoin-market-a-246-billion-sector-awaits-regulation\"><strong>Stablecoin Market: A $246 Billion Sector Awaits Regulation<\/strong><\/h3>\n<p>The timing is crucial. The global <strong>stablecoin market is now worth over $246 billion<\/strong>, with <strong>Tether\u2019s USDT ($151B)<\/strong> and <strong>Circle\u2019s USDC ($61B)<\/strong> leading the charge. These tokens, pegged 1:1 with fiat currency, are essential for traders, institutions, and fintech innovators.<\/p>\n<p>Use cases are growing fast. Mastercard\u2019s <strong>partnership with MoonPay<\/strong> is enabling <strong>stablecoin payments for 150 million merchants worldwide<\/strong>\u2014further validating the need for regulation.<\/p>\n<p>Senator Hagerty argues the GENIUS Act would:<\/p>\n<ul>\n<li>Cement the <strong>U.S. dollar\u2019s dominance in the digital economy<\/strong><strong><br \/><\/strong><\/li>\n<li>Increase <strong>demand for U.S. Treasuries<\/strong><strong><br \/><\/strong><\/li>\n<li>Encourage <strong>fintech innovation to stay within U.S. borders<\/strong><strong><br \/><\/strong><\/li>\n<\/ul>\n<h3 id=\"h-can-the-genius-act-pass\"><strong>Can the GENIUS Act Pass?<\/strong><\/h3>\n<p>To pass, the Senate requires <strong>60 votes<\/strong>. As of <strong>May 17, 2025<\/strong>, the chamber makeup is:<\/p>\n<ul>\n<li><strong>Democrats (including Independents): 51 seats<\/strong><strong><br \/><\/strong><\/li>\n<li><strong>Republicans: 49 seats<\/strong><strong><br \/><\/strong><\/li>\n<\/ul>\n<p>With no party holding a filibuster-proof majority, the bill\u2019s success hinges on <strong>bipartisan cooperation<\/strong>. If 9\u201311 moderate Democrats or Republicans flip in favor, the GENIUS Act could mark a <strong>historic regulatory milestone<\/strong> for crypto.<\/p>\n<\/div>\n<div>\n<h2>We&#8217;d Love to Hear Your Thoughts on This Article!<\/h2>\n<div>\n<h4>Was this writing helpful?<\/h4>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/coinpedia.org\/news\/genius-act-vote-on-may-19-will-the-u-s-finally-regulate-stablecoins\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Nidhi Kolhapur<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Senate is preparing to vote on the GENIUS Act (Guaranteed Electronic USD Issuance and Safeguards Act) on May 19, 2025. The bipartisan bill, co-sponsored by Senator Bill Hagerty (R-TN) and Senator Kirsten Gillibrand (D-NY), aims to establish the first-ever regulatory framework for payment stablecoins in the United States. Hagerty Eyes Bipartisan Breakthrough Senator<\/p>\n","protected":false},"author":1,"featured_media":849197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[848,25764],"tags":[],"class_list":{"0":"post-849196","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finally","8":"category-genius"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/849196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=849196"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/849196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/849197"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=849196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=849196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=849196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}