Loading Search...
Senate Majority Leader John Thune has filed for cloture on the GENIUS Act, a long-anticipated bill that could set the regulatory foundation for stablecoins in the United States.
Author: Sahil Thakur
Washington, D.C. — June 10, 2025
Senate Majority Leader John Thune has filed for cloture on the GENIUS Act, a long-anticipated bill that could set the regulatory foundation for stablecoins in the United States. The procedural move starts the countdown to a key vote later this week. At least 60 votes will be needed to advance the bill toward final passage.
The GENIUS Act – short for Guiding and Establishing National Innovation for U.S. Stablecoins, introduces a federal framework for issuing and regulating payment stablecoins. Under the bill:
The bill’s goal is to offer consumer protection while allowing stablecoin innovation to grow within the U.S. financial system.
The GENIUS Act has faced multiple delays. An earlier vote in May fell short due to concerns over potential conflicts of interest and questions around enforcement. Lawmakers later reworked sections on oversight, foreign issuers, and anti-money laundering controls.
Recent bipartisan negotiations appear to have resolved several sticking points. Senate leadership now expects enough support from both parties to move the bill through this week.
The bill has gained support from both sides of the aisle. Proponents argue it will give stablecoin issuers much-needed clarity while reinforcing the role of the dollar in the digital economy. They view the measure as critical to keeping the U.S. competitive in the growing world of digital finance.
However, not all lawmakers are on board. Critics have raised concerns about enforcement gaps, oversight limitations, and the influence of corporate interests. Some have warned that the bill could open doors to regulatory arbitrage or give unfair advantages to large issuers.
If the Senate advances the GENIUS Act after debate, a final vote could take place as early as Friday. Should it pass, the bill will head to the House for further action. Senate leadership hopes to finalize stablecoin regulation before the July legislative recess.
The crypto industry is watching closely. Clear federal guidance on stablecoins could encourage greater institutional participation and promote more mainstream use of blockchain-based payments.
Market participants expect trading volumes for regulated stablecoins to rise if the bill passes. Crypto-focused equities have already seen increased activity in anticipation of the vote. Analysts suggest the bill could also create a foundation for broader crypto regulation, including custody rules and market structure.
Stablecoin providers may soon face more stringent operational standards. But with that regulation could come legitimacy—potentially reshaping how dollars move across blockchains in the years ahead.
The coming days will determine whether the U.S. takes its next big step toward crypto financial infrastructure.
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
SEC Chair Says Tokenization Innovation Exemption Could Arrive Within Weeks
Visa Becomes Super Validator on Canton Network
UK Bank Monument Moves Tokenized Deposits On-Chain
Coinbase Rejects Senate Stablecoin Yield Deal in CLARITY Act
SEC Chair Says Tokenization Innovation Exemption Could Arrive Within Weeks
Visa Becomes Super Validator on Canton Network
UK Bank Monument Moves Tokenized Deposits On-Chain
Coinbase Rejects Senate Stablecoin Yield Deal in CLARITY Act
