U.S. Senate Takes First Big Step to Advance Stablecoin Bill
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U.S. Senate Takes First Big Step to Advance Stablecoin Bill
Publish date
12:00am, Thursday, March 13, 2025
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U.S. Senate Banking Committee advanced GENIUS Stablecoin Bill to the Senate
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With its first committee approval, the bill that would regulate U.S. stablecoin issuers at the federal level now needs passage by the overall Senate, and a similar version also awaits approval in the House of Representatives. While a number of hurdles remain, including an eventual melding of the different bills from each chamber, the committee advanced the bill with a 18-6 vote.
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Senator Elizabeth Warren, the panel's ranking Democrat, led her colleagues' objections against certain provisions of the bill, which she said marks "a clear threat to our national security" in its current form
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