Senate Nears Stablecoin Bill Vote After Revisions

The U.S. Senate is moving closer to a vote on the GENIUS Act, a bipartisan bill to regulate stablecoins, following negotiations that addressed Democratic concerns about anti-money laundering, foreign issuers, and the involvement of major tech firms in digital currencies. Revised provisions now impose stricter oversight on non-financial public companies like Meta and Google seeking to issue stablecoins, aiming to bolster consumer protection, national security, and ethics standards. Some ethical loopholes persist, particularly regarding presidential benefits, but lawmakers believe they are close to consensus and procedural votes could start as soon as Monday. The GENIUS Act is positioned as vital for U.S. leadership in digital finance and stability before the 2026 midterm elections. Crypto industry leaders and advocates remain hopeful about its passage, although some senators are calling for even tougher regulations. The final Senate vote is anticipated in the coming weeks, with significant implications for U.S. and global stablecoin oversight.