Senate’s GENIUS Act Passes Key Cloture Vote

🧭 May 20, 2025: The Senate’s GENIUS Act just cleared a key cloture vote, paving the way for a full vote on the “Guiding and Establishing National Innovation for U.S. Stablecoins of 2025”! This bipartisan bill aims to regulate stablecoins, boosting U.S. dollar dominance and crypto innovation. Next stop: Senate floor!
🏛 May 15, 2025: Senators Gillibrand & Lummis are optimistic about the GENIUS Act, predicting approval within 10 days! This stablecoin bill could bring major regulatory clarity to the US crypto market.
May 9, 2025: 🚨 GENIUS Act rejected in US Senate, 48-49! The stablecoin regulation bill fell short amid Democrat concerns over Trump family crypto influence. A setback for financial innovation?💥 The project’s future hangs in balance—possible revisions or a pivot to STABLE Act loom.
08 May, 2025: The GENIUS Act, a landmark bill aimed at establishing the first U.S. federal framework for regulating stablecoins, is set for a Senate vote today. Initially enjoying bipartisan support, the bill now faces significant opposition due to ethical concerns surrounding former President Donald Trump's involvement in cryptocurrency ventures. Democrats are pushing for amendments to prevent public officials from profiting off digital assets, citing potential conflicts of interest. Despite these tensions, industry leaders advocate for the bill's passage to provide much-needed regulatory clarity and maintain U.S. leadership in the digital economy.
The financial world is witnessing an unprecedented shift as stablecoins become the battleground for economic dominance. Max Keiser believes gold-backed stablecoins will soon outcompete traditional USD stablecoins, aligning with the broader trend of banks and fintech firms joining the "stablecoin gold rush," as reported by the Financial Times.
Meanwhile, in Washington, Senator Mike Lee has once again proposed legislation to dismantle the Federal Reserve, signaling a growing pushback against centralized monetary control. At the same time, President Donald Trump has launched the "World Liberty" stablecoin on Ethereum and BNB Chain, with reports suggesting a broader effort to rebrand USAID and integrate blockchain technology into government initiatives.
On Capitol Hill, a new stablecoin bill is moving forward in the House Committee, while CoinDesk reports that Worldcoin is in discussions with Visa to develop a stablecoin wallet. Despite these disruptions, White House economic adviser Bessent insists that stablecoins will help sustain the dollar's dominance. Tech investor David Sacks takes it a step further, predicting that stablecoins will drive trillions into U.S. Treasuries, reinforcing America’s economic influence.
As the stablecoin landscape evolves, the battle for monetary supremacy intensifies. Whether through gold-backed assets, blockchain integration, or regulatory battles, the future of finance is being rewritten in real-time.