U.S. Senate Committee OKs Stablecoin Bill, Balancing State & Federal Roles

• U.S. Senate Banking Committee advances GENIUS Act for stablecoin regulation.
• Bipartisan support pushes the GENIUS Act closer to becoming law, but hurdles remain.
• Nebraska pushes for state control over stablecoin regulations amid federal efforts.

The Senate Banking Committee just gave the green light to a bipartisan bill aimed at regulating stablecoins. The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), approved by an 18-6 vote, seeks to create a federal system for stablecoin regulation, potentially bringing much-needed clarity to these digital assets.

Senator Bill Hagerty, who introduced the bill, sees it as a way to provide clear regulations for stablecoins in the U.S. While the bill passed with support from both Republicans and Democrats, it still faces hurdles before becoming law. It must clear the full Senate and House of Representatives before reaching President Donald Trump’s desk for final approval.

The post U.S. Senate Committee OKs Stablecoin Bill, Balancing State & Federal Roles appeared first on Coin Edition.