U.S. Stablecoin Legislation Eyes Passage by Next Weekend, Seen as Potential 'Catalyst'

Cryptocurrency journalist Eleanor Terrett reported on May 15 that a new bipartisan amendment to the U.S. Senate’s stablecoin regulation bill, the 'GENIUS Act' (S.1582), is currently being circulated in the Senate. This amendment includes new provisions related to consumer protection, bankruptcy, and ethics. The GENIUS Act was initially introduced by Senator Bill Hagerty in February this year and initially enjoyed bipartisan support. However, several pro-cryptocurrency Democratic senators voted against ending the debate, leading to its rejection on May 8 and halting its progress in the Senate. The language of the bill...