{"id":856369,"date":"2025-06-18T09:11:35","date_gmt":"2025-06-18T14:11:35","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/18\/us-senate-passes-genius-stablecoin-bill-in-68-30-vote\/"},"modified":"2025-06-18T09:11:35","modified_gmt":"2025-06-18T14:11:35","slug":"us-senate-passes-genius-stablecoin-bill-in-68-30-vote","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/18\/us-senate-passes-genius-stablecoin-bill-in-68-30-vote\/","title":{"rendered":"US Senate passes GENIUS stablecoin bill in 68-30 vote"},"content":{"rendered":"
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The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, is one step closer to becoming law in the US after the US Senate voted to pass an amended version of the bill.<\/p>\n

In a Tuesday vote of 68-30, a majority of the US Senate chose<\/a> to pass the GENIUS Act roughly six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The bill\u2019s companion, the STABLE Act, may be considered in the House of Representatives next, where it could face additional proposals for amendments.<\/p>\n

\u201cWith this bill, the United States is one step closer to becoming the global leader in crypto,\u201d said Hagerty from the Senate floor before the Tuesday vote, adding: \u201cOnce the GENIUS Act is law, businesses of all sizes, and Americans across the country will be able to settle payments nearly instantaneously rather than waiting for days or sometimes even weeks.\u201d<\/p>\n

\"Law,
Source: <\/em>US Senate<\/em><\/a><\/figcaption><\/figure>\n

The GENIUS Act initially failed a cloture vote<\/a> in the Senate in May in response to Democratic opposition to US President Donald Trump\u2019s connections to the cryptocurrency industry. The Trump family has a significant stake in World Liberty Financial, which issued its own USD1 stablecoin<\/a> in March.\u00a0<\/p>\n

It\u2019s unclear whether the stablecoin legislation will have enough support to pass in the House, where Republicans also hold a slim majority over Democrats. Trump\u2019s AI and crypto czar, David Sacks, suggested in May<\/a> that the president would support the bill passed by a Republican-controlled Congress.<\/p>\n

Related: <\/strong><\/em>Stablecoins will soon have their \u2018iPhone moment,\u2019 Circle CEO<\/strong><\/em><\/a><\/p>\n

Should payment stablecoins be recognized in a US regulatory framework, it could potentially open the floodgates for companies to issue their own tokens. Apple, Google, social media platform X and Airbnb were reportedly looking into the matter<\/a> amid debate on the GENIUS Act, and two US senators questioned whether Meta<\/a> might have the same plans if the bill were to pass.<\/p>\n

\u201cRecent reporting projects that stablecoins could grow into a $3.7 trillion market by the end of the decade,\u201d said<\/a> Treasury Secretary Scott Bessent in a Tuesday X post. \u201cThat scenario becomes more likely with passage of the GENIUS Act.\u201d<\/p>\n