Senate Moves Forward on Bipartisan #Stablecoin Bill Without #Trump Provisions
The U.S. Senate could pass the GENIUS Act stablecoin bill by May 26 after removing language targeting #PresidentTrump and his family's #crypto interests.
Democratic Senator Kirsten Gillibrand confirmed the revised bill includes "good refinement" on consumer protection, bankruptcy protection, and ethics requirements.
The progress comes after Senate Democrats initially stalled the bill's momentum over concerns it wouldn't address crypto deals enriching Trump.
Coinbase CEO Brian Armstrong, who appeared alongside Senators at a
#StandWithCrypto event, expressed hope for a vote "early next week."
Industry advocates emphasize that passing crypto legislation before the August recess is "absolutely critical," as the midterm election window may close opportunities for regulatory clarity.
