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Senate Schedules Final Vote on GENIUS #Stablecoin Bill for June 17

The United States Senate will conduct its final vote on comprehensive stablecoin legislation next Tuesday.

The GENIUSAct establishes legal frameworks requiring stablecoins to maintain full backing by U.S. dollars or equivalent liquid assets.

Issuers managing over $50 billion in market capitalization must undergo mandatory annual audits under the proposed legislation.

The bill includes compliance guidelines for foreign stablecoin issuers operating within American markets.

Senate Democrats confirmed the June 17 timeline, with exact voting times determined by leadership consultation.

If approved, the legislation advances to the House of Representatives, which has its own STABLE Act pending in committee.

Both chambers must reconcile differences regarding state versus federal oversight of stablecoin issuers and #foreign issuer regulation.

President #DonaldTrump publicly endorsed passing #stablecoin legislation by August, accelerating congressional momentum.

Treasury Secretary Scott Bessent projects the USD #stablecoin market could exceed $2 trillion by 2028 with proper regulatory frameworks.