GENIUS Act Nears Senate Breakthrough Amid Regulatory Debate and Delay Concerns
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- Bipartisan talks advance, but Senate procedures may stall the GENIUS Act progress.
- John Deaton warns U.S. crypto reform may freeze until 2029 without the GENIUS Act.
- Senator Warren opposes the current draft, calls for tougher protections to safeguard users.
The GENIUS Act, a key piece of U.S. legislation designed to establish clear regulations for stablecoins, is close to being finalized but remains stuck in the US Senate. Introduced by Senator Bill Hagerty, the Act proposes a structured approach to regulating stablecoins by defining key terms, establishing reserve requirements, and outlining the roles of both federal and state regulators.
The bill’s intent is to create a regulatory environment that supports innovation while ensuring necessary oversight to protect financial stability.
— Eleanor Terrett (@EleanorTerrett) May 14, 2025
NEW: I’m in Toronto but here’s what I’m hearing out of Washington per two Senate sources…
A bipartisan group of Senators is close to arriving at consensus on GENIUS Act text that could allow the process to move forward after days of intensive negotiations that restarted…
Bipartisan Progress on Bill Text Reporte…
The post GENIUS Act Nears Senate Breakthrough Amid Regulatory Debate and Delay Concerns appeared first on Coin Edition.
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