Senate Moves Forward on GENIUS Stablecoin Bill Amid Trump’s Crypto Push

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The US Senate voted decisively (68-30) to advance the GENIUS Act, a major stablecoin regulation bill backed by Senate leadership and aligned with President Donald Trump’s pro-crypto agenda.

Majority Leader John Thune framed the legislation as key to securing America’s dominance in digital assets.

However, Senator Elizabeth Warren and other Democrats opposed the bill, citing unaddressed flaws and concerns over Trump’s financial ties to World Liberty Financial, his family’s crypto platform. The controversy comes as Trump courts crypto voters, even offering exclusive perks to holders of his memecoin.

Meanwhile, the House is progressing with the CLARITY Act, signaling growing momentum for crypto legislation.