STABLECOIN BILL COULD CLEAR SENATE NEXT WEEK
Senators Hagerty (R) and Gillibrand (D) say the bipartisan GENIUS Act, designed as the first pro‑growth U.S. regulatory framework for payment stablecoins, could clear the Senate as soon as next week after modest tweaks to address Democrats' consumer‑protection and national‑security concerns. The latest draft bars large public companies like Meta from issuing stablecoins and incorporates “robust consumer protections” to win broader support. Following a failed cloture vote, backers are gearing up for a second 60‑vote threshold today to bring the bill into formal debate and potential amendment. If enacted, the legislation would set clear standards for issuers of USDC, USDT, and other dollar‑pegged tokens.