- Main event, leadership changes, market impact, financial shifts, or expert insights.
- GENIUS Act advances with bipartisan support in Senate.
- Impacts on stablecoin liquidity and broader crypto market anticipated.
The U.S. Senate, led by Majority Leader John Thune, has advanced the GENIUS Act, aimed at regulating stablecoins, following a cloture vote on June 11, 2025.
The Senate’s move highlights the growing emphasis on regulating digital assets and anticipates influencing stablecoin markets and overall cryptocurrency stability.
The GENIUS Act document by Senator Hagerty is designed to bring stablecoins under a clearer regulatory framework. It was proposed by Senate Majority Leader John Thune and supported by a bipartisan group in a cloture vote of 68-30.
Senate Majority Leader John Thune emphasizes the mainstreaming of cryptocurrency through this legislation. “We want to bring cryptocurrency into the mainstream. And the GENIUS Act will help us do that.” Following the cloture vote, the bill moves towards a full floor vote, marking a pivotal shift in cryptocurrency policy.
The immediate effects center on USD-backed stablecoins, with potential changes anticipated in ETH and BTC markets. Stakeholders await more detailed legislative impact assessments in coming sessions.
Financial implications are unclear, but the act aims to establish new compliance requirements, potentially attracting large institutional players by improving regulatory clarity. It could reshape investment patterns in the stablecoin ecosystem.
Historical precedents show stalled crypto legislation, but this rapid advance suggests increased political will. Earlier regulatory sets have marked slow adoption but eventual normalization in the market landscape.
Experts foresee potential shifts in institutional investments in stablecoins given increased regulatory assurance. However, discussions continue on Twitter without official statements from major project leaders, hinting at reserved positions until final legislation passes.
