US SENATE TO VOTE ON STABLECOIN BILL THURSDAY AMID BIPARTISAN TENSIONS

Summary from the TLDR Crypto newsletter

The U.S. Senate will vote Thursday on the GENIUS Act, a bill that requires stablecoins to be fully backed by U.S. dollars or short-term Treasuries. Despite GOP leadership backing, the bill faces bipartisan resistance, with Democrats demanding stricter safeguards on foreign issuers and anti-money laundering rules and some Republicans raising concerns over tech company involvement. The legislation needs 60 votes to advance, putting pressure on sponsors to win over skeptical lawmakers across both parties.