Eleanor Terrett says the GENIUS Stablecoin Act may pass the US Senate on Tuesday, setting the stage for a House vote soon after.
The highly anticipated GENIUS Stabelcoin Act is scheduled for its final passage vote on Tuesday.
The measure will proceed to the House upon its passage by the US Senate. This represents a substantial stride toward establishing a regulatory framework for stablecoins in the United States.
Genius Stablecoin Act Is Expected To Be Passed By US Senate Today
The GENIUS stablecoin Act is on the brink of a critical US Senate vote following weeks of discussions, cloture votes, and revisions.
This brings the bill one step closer to becoming law. On June 17, 2025, the stablecoin measure is scheduled to undergo its final vote, as noted by FOX Business journalist Eleanor Terrett in an Xpost.
As the US Senate voted to invoke cloture last week, facilitating final debate, there is an increasing likelihood that the US Senate will pass the GENIUS Act today.
Sen. Bill Hagerty acknowledged the significance of the stablecoin bill’s passage, stating,
If we fail to act now, not only will these benefits slip away — we will also fall behind in global competitiveness. Without a regulatory framework, stablecoin innovation will proliferate overseas — not in America!…With the dollar struggling to maintain its role in the global economy, the GENIUS Act could just be the thing that saves it.
Although many individuals endorse Hagerty’s perspective and express optimism regarding the potential ratification of the stablecoin act, many others remain pessimistic.
Industry leaders, such as Ron Hammond, the Head of Wintermute, are cautiously optimistic about the GENIUS Act’s passage despite the growing criticism of the measure.
He cited,
Overall, it does seem like it’s tracking to be at least for GENIUS passed out of the Senate by Tuesday. Democrats seem to be largely coming around to support at least the stablecon bills as of right now.
Regulation Of Stablecoins Uncertain In Face Of Growing Reaction
A vocal opposition group firmly disagrees with the advocates for clear stablecoin regulations and the passage of the GENIUS Act, which has ignited a contentious debate.
The stablecoin act is being opposed by crypto critics such as Senator Elizabeth Warren, who are urging Congress to take action.
Warren raised concerns regarding security and privacy, asserting that “if Congress does not rectify the GENIUS Act, billionaires such as Elon Musk and Jeff Bezos may introduce stablecoins that monitor your transactions, exploit your data, and reduce competition.”
Similarly, Missouri Republican Senator Josh Hawley expresses his profound disdain for the GENIUS bill. He contended,
It’s a huge giveaway to Big Tech. It allows these tech companies to issue stablecoins without any kind of controls. I don’t see why we would do that.
Simultaneously, industry professionals, including Lionsgate CEO Bezalel Eithan Raviv, address the bill’s constraints.
However, they regard it as an essential step in establishing stablecoin regulations.
Raviv acknowledged the stablecoin’s role as an enhancement to the current absence of crypto regulation, stating,
The general outlook is that [the bill] will do better than anything that is currently happening. It’s a step in the right direction for everyone. There are ways to make it better. There are ways to make everything better. But this is the first one. Let’s give it a try, and it will ripple in many ways.
