The U.S. Senate will hold a procedural vote on the stablecoin regulation bill in the early morning.

GateUser-6433627c · 2025-05-08T14:30:25+00:00

The U.S. Senate will vote on the updated version of the stablecoin regulatory bill, the "GENIUS Act." This bill aims to establish a regulatory framework for payment stablecoins within the United States, with the goal of promoting financial innovation, protecting consumers, preventing illegal financial activities, and reinforcing the dollar's position in the global financial system. The voting situation is expected to lead to a fierce showdown between Republicans and Democrats.

GateUser-6433627c

2025-05-08 14:30:25

Abstract generation in progress

On May 8, crypto journalist Eleanor Terrett disclosed that the U.S. Senate is scheduled to hold a procedural vote on the updated version of the stablecoin regulation bill, the GENIUS Act, at 1:45 p.m. ET (1:45 a.m. Beijing time on May 9). It is reported that after the late-night negotiations between Republicans and Democrats in the Senate and the text update in the last minutes, the voting situation will be a “fierce showdown”. BlockBeats previously reported that the GENIUS Act, or the National Innovation Act for Guiding and Building U.S. Stablecoins, is a piece of legislation introduced by the U.S. Senate on February 4, 2025, to establish a comprehensive regulatory framework for “payment stablecoins” in the U.S. to promote financial innovation, protect consumers, and prevent illicit financial activities, while reinforcing the U.S. dollar’s dominance in the global financial system.

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