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Senate advances a major crypto regulation bill on a bipartisan vote
- The Senate advanced the bipartisan GENIUS Act to regulate stablecoins with a 66-32 procedural vote on May 19, 2025.
- The vote followed earlier Democratic opposition and recent negotiations that addressed concerns over foreign issuers and large tech companies issuing stablecoins.
- The legislation seeks to establish nationwide regulations for stablecoin issuers, which are linked to assets such as the U.S. Dollar and help reduce the volatility typically seen in cryptocurrencies.
- Senator Elizabeth Warren expressed concerns that the bill would intensify conflicts of interest by greatly expanding the stablecoin market, effectively enabling President Trump to benefit from and potentially oversee financial products linked to his family.
- The bill's advancement indicates growing political influence of the crypto industry but faces Democratic objections and awaits a final Senate vote potentially this week.
129 Articles
129 Articles
Wyoming's bipartisan leadership on digital assets is a model for the nation
A recent WyoFile opinion piece by Kerry Drake offered commentary about the GENIUS Act, bipartisan federal legislation designed to provide regulatory clarity for stablecoins. While we always welcome thoughtful discussions about digital asset policy, Drake’s piece contained inaccuracies about the legislation’s current status and Wyoming’s ongoing bipartisan efforts. Opinion Since 2018, Wyoming’s Select Committee on Blockchain, Financial Technolog…
Nebraska enacts law to regulate energy use by cryptocurrency mining operations
Nebraska Governor Jim Pillen has signed new legislation aimed at regulating the energy demands of cryptocurrency mining operations. The bill, LB526, was signed into law Tuesday and was introduced on the governor’s behalf by State Senator Mike Jacobson. It establishes a series of requirements to ensure crypto mining businesses are transparent about their energy use and financially responsible for any impact on the state’s electrical infrastructur…
Senate Advances Cryptocurrency Legislation
WASHINGTON—The Senate on May 19 voted to advance a bill that would establish regulations for the cryptocurrency industry, several days after an initial vote failed because of Democratic opposition. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is a bill that seeks to impose regulations on “stablecoins,” which are digital tokens whose value is pegged to another secure asset (e.g., U.S. Treasury bonds and other…
8 Ways Cryptocurrency Adoption Affects Arizona Businesses of All Sizes
Arizona's openness to blockchain innovation and digital currency has greatly affected companies all around since it has become one of the most crypto-friendly states in the U.S. The use of Bitcoin has brought new possibilities from tiny businesses to big…
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