Trump-Backed GENIUS Stablecoin Bill Heads to Final Senate Vote

The U.S. Senate has advanced the GENIUS stablecoin bill, a significant step toward final approval. With a 68–30 cloture vote, the legislation is set for a decisive vote as early as next Monday. The bill mandates stablecoin issuers to back their tokens with liquid assets and imposes stringent audit requirements on large players.

Formally titled the Guiding and Establishing National Innovation for U.S. Stablecoins Act, the legislation targets systemic risks in digital finance. Issuers with over $50 billion in market capitalization will face annual audits, while oversight measures extend to foreign operators to close regulatory gaps.

Bipartisan negotiations paved the way for this milestone, balancing innovation with financial safeguards. The bill’s progress underscores growing institutional recognition of stablecoins’ role in the crypto ecosystem.