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Posted: 2025-05-16 12:31:24 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-05-16 12:42:40 UTC
Verified By
Rollup News
The U.S. Senate is progressing with the GENIUS Act stablecoin bill, aiming for passage by May 26 after removing provisions related to President Trump. The revised bill focuses on consumer protection, bankruptcy protection, and ethics requirements. Industry advocates stress the importance of passing crypto legislation before the August recess to secure regulatory clarity.
Senate moving forward on stablecoin bill
Removal of Trump-related provisions
Focus on consumer and bankruptcy protection
Importance of passing legislation before August recess
Initial stalling by Senate Democrats
Concerns over crypto deals enriching Trump
Need for regulatory clarity before midterm elections