- The U.S. Senate superior the GENIUS Act with a 68-30 vote, bringing stablecoin laws nearer to a full vote.
- Senate Majority Chief Thune framed the invoice as a path to creating the U.S. the “crypto capital of the world.”
- Senator Warren criticized the invoice as a automobile for corruption, citing Trump’s crypto ventures and alleged political favoritism.
In a 68-30 vote, the U.S. Senate superior the GENIUS Act—brief for Guiding and Establishing Nationwide Innovation for US Stablecoins—paving the way in which for full debate on the ground and a possible vote to maneuver it ahead to the Home. The invoice, launched greater than a month in the past, has shortly gained traction as lawmakers push to solidify the nation’s management in digital property.
Senate Majority Chief John Thune backed the invoice, echoing President Trump’s rhetoric that the laws would assist set up the US because the “crypto capital of the world.” In response to Thune, “We need to deliver cryptocurrency into the mainstream, and the GENIUS Act will assist us try this.” He additionally hinted at future laws, referencing the CLARITY Act—a separate digital market framework invoice now below Home evaluate.
Warren Slams GENIUS Act, Cites Corruption Considerations
However not everyone seems to be cheering. Senator Elizabeth Warren voiced sharp opposition, accusing Congress of sidestepping key bipartisan amendments. Her greatest concern? Former President Trump’s rising crypto affect. Warren pointed to his involvement in World Liberty Monetary, a crypto platform allegedly used to reward memecoin holders with high-level perks like tariff exemptions and political entry.
“By passing the GENIUS Act, the Senate will not be solely about to bless this corruption, however to actively facilitate its enlargement,” Warren warned.
With the invoice now cleared for debate, either side of the aisle are bracing for a high-stakes showdown that might reshape how stablecoins and crypto are regulated—and politically weaponized—within the U.S.