TechFlow, May 15 — According to Cointelegraph, the U.S. Senate is expected to pass the GENIUS Act (Guidance and Establishment for New Innovation in US Stablecoins) by May 26. The bill has removed provisions related to President Trump and his family's cryptocurrency business.
Democratic Senator Kirsten Gillibrand stated that the revised bill will focus on consumer protection, bankruptcy safeguards, and ethical standards, rather than targeting specific individuals. Earlier, Senate Democrats had paused the bill’s advancement on May 8 due to concerns it did not adequately address Trump-related cryptocurrency activities.
Marta Belcher, President of the Blockchain Association, emphasized the importance of passing the bill before the 2026 midterm elections, warning of potentially hostile future administrations toward cryptocurrency. Bo Hines, Executive Director of the Presidential Advisory Committee on Digital Assets, said Trump intends to sign both the stablecoin bill and the market structure bill before the August recess.
