Still, the bill is considered a major win for the crypto industry. The industry-backed bill would help protect consumers and set industry standards that could allow stablecoins to become mainstream for digital payments and other financial instruments, advocates say.

The GENIUS Act advanced in the Senate with a 66-32 vote after 16 Democrats changed their position. The bill had previously failed amid criticism that

Sen. Roger Marshall (R-KS) is gauging support for a bill that reins in credit card swipe fees, though he has not requested a vote as part of a major piece of banking legislation.

The GENIUS Act passed a cloture vote Monday less than two weeks after failing one. The stablecoin bill now heads to a full floor vote.

Senator Elizabeth Warren slammed the GENIUS Act in a fiery speech on the Senate floor on Monday, citing risks to financial security.

The Merchants Payments Coalition today welcomed a letter from some of the nation’s largest Native American tribes urging Congress to include the Credit Card Competition Act in the GENIUS Act, aiming to help reduce rising costs for tribal members.

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act failed to pass a key Senate vote on May 8. The bill will return

The revised GENIUS Act does contain new provisions to bolster consumer safeguards, limit the ability of tech companies to issue proprietary stablecoins, and extend new ethics for “special government employees” such as clueless DOGE thug Elon Musk and ...