US Edition
Senate Lines up Major Step Toward Passing Stablecoin Bill
- The U.S. Senate is scheduled to vote on June 11 to advance the GENIUS Act, a bipartisan bill regulating stablecoins.
- The bill follows months of negotiations and a prior 66-32 cloture vote, aiming to establish regulatory clarity for stablecoins amid competing House proposals.
- The GENIUS Act mandates that stablecoins maintain a one-to-one reserve in U.S. dollars or similar liquid assets and requires annual audits for issuers valued above $50 billion.
- Circle’s recent IPO surge of over 347% and $589 billion in transaction volume highlight market confidence in regulated stablecoin issuers like USDC.
- If passed, the Act will create the first national framework for stablecoins, supporting innovation while enhancing consumer protection and financial stability.
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Senate lines up major step toward passing stablecoin bill
·Washington, United States
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Blockworks
BlockworksWhat does ‘stablecoin summer’ look like?
This is a segment from the 0xResearch newsletter. To read full editions, subscribe. In the wake of Circle’s IPO and Plasma’s token sale, stablecoins are undisputedly in vogue. Meanwhile, the US Senate is going into a final vote on the landmark stablecoin bill, dubbed the GENIUS Act, this week. What does the stablecoin landscape look like today? First, total stablecoin supply remains up and to the right — $249 billion in the last week. USDT and U…
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Leaning Left1Leaning Right2Center1Last UpdatedBias Distribution50% Right
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