- US Senate revisits stablecoin bill, stable market impact so far.
- Bill seeks regulatory clarity, no major coin movement yet.
- Industry optimism persists amid ongoing political negotiations.
US senators are poised to vote yet again on a pivotal bill setting regulations for stablecoins, following a previous setback.
The legislation’s passage could provide clearer guidelines for digital assets, boosting institutional confidence and participation.
Stablecoin Legislation Vote Set to Reoccur in US Senate
Senate Minority Leader Schumer has orchestrated focused discussions related to the unpublished bill text revisions. Senator Elizabeth Warren remains critical of the bill’s loopholes, concentrating her disapproval on “cryptocurrency corruption.” Negotiations are active, seeking consensus across party lines.
If passed, the bill could introduce new regulations for stablecoin issuers, affecting their operational frameworks. However, changes remain a subject of current debate and negotiations, leaving the outcome uncertain. Observers are keenly monitoring statements from sector leaders.
“Next week, the Senate will make history when we debate and pass the GENIUS Act that establishes the first ever pro-growth regulatory framework for payment stablecoins.” — Bill Hagerty, Senator, United States Senate
Banking Concerns and Potential GENIUS Act Outcomes
Did you know? The GENIUS Act aims to create a regulatory framework specifically designed for stablecoins, marking a significant shift in how digital assets are governed.
Tether USDt (USDT) maintains a stable $1.00 price, with a market cap of $151.37 billion and a 4.67% market dominance, according to CoinMarketCap. Over the past 24 hours, trading volume surged to $106.09 billion, reflecting a 103.07% increase. Despite these changes, the price remained nearly static, illustrating USDT’s stability amidst market volatility. Notably, the circulating supply stands at 151.36 billion, as of May 19, 2025, 10:20 UTC.
The Coincu research team suggests potential outcomes contingent on the bill’s passage. While clarity may enhance market confidence, regulatory shifts could challenge existing digital asset practices and provoke innovations to comply with novel frameworks. Industry participants are in anticipation of ensuing regulatory behaviors, keeping a close watch on legislative changes.
