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Sen. Lummis says Senate could approve GENIUS Act stablecoin bill by Memorial Day: CNBC Crypto World
- Senator Lummis said the Senate could approve the GENIUS Act, a stablecoin regulation bill, by Memorial Day after recent votes in Washington, DC.
- The bill aims to clarify stablecoin laws amid stalled negotiations due to concerns over a carve-out for Trump-related crypto interests and bipartisan support challenges.
- The GENIUS Act includes provisions addressing ethics, national security, Big Tech restrictions, and Treasury oversight on anti-money laundering linked to foreign stablecoin issuers.
- Coinbase CEO Brian Armstrong highlighted that establishing definitive regulations may allow for stablecoins that generate yields and help broaden cryptocurrency adoption, while the legislation requires a study on the risks associated with stablecoin insolvency.
- If enacted, the GENIUS Act could modernize U.S. Financial infrastructure and encourage investment, but its passage depends on resolving ethical concerns and securing enough Senate votes.
12 Articles
12 Articles
Sen. Lummis says Senate could approve GENIUS Act stablecoin bill by Memorial Day: CNBC Crypto World
On today's episode of CNBC Crypto World, Coinbase shares fall after the firm reported that hackers bribed overseas support agents to steal customer data to use in social engineering attacks. Plus, speaking from Consensus 2025, Eric Trump, co-founder of the bitcoin mining firm American Bitcoin, discusses the company's plan to go public on the Nasdaq. And, Ryan Rugg, head of digital assets for Citibank's Treasury and Trade Solutions (TTS) business…
CfG President McIntosh Statement on White House Crypto Council, Stablecoin Legislation
Washington, D.C. – Club for Growth President issued the following statement praising the White House Crypto Council after recent developments on the GENIUS Act: “While there will always be industry infighting, David Sacks and Bo Hines have rallied the digital asset community and a bipartisan group of Senators to reverse the progressive attacks on this innovative technology from Elizabeth Warren and the Biden Administration,” said Club for Grow…
Stablecoin GENIUS Act May Pass US Senate Mid-May Sources Say
Lawmakers and analysts agree that the GENIUS Act bill is close to approval. The GENIUS Act will provide fair competition in the finance sector. Cynthia Lummis targets May 26 for the Stablecoin GENIUS Act approval. Recent developments surrounding the proposed Stablecoin GENIUS Act indicate a growing optimism for its potential approval in the US Senate in the coming days or weeks. Pro-crypto senators are reportedly expressing confidence about the…
Stablecoins sparks debate: Is the GENIUS Act ’embracing crypto’ or ‘imposing order’?
Senate schedules GENIUS Act vote, advancing U.S. stablecoin regulation efforts. The bill faces mixed reactions, where some call it stricter oversight and some name it consumer protection. After months of uncertainty and repeated delays, the U.S. Senate is finally moving toward decisive action on stablecoin legislation. GENIUS Act moves ahead The much-anticipated GENIUS Act, which had faced the risk of being shelved, is now heading for a pivotal …
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