TechFlow news, June 3 — According to Cointelegraph, the U.S. Senate is preparing to debate the stablecoin regulatory bill, the "Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act." Cryptocurrency lobbying groups are urging senators to pass the bill promptly, as proposed amendments related to credit card processing fees could delay its progress.
The bill passed a procedural vote in May and is expected to secure sufficient votes in the Senate this week before being sent to the House of Representatives. Crypto organizations including the Blockchain Association, Crypto Council for Innovation, Digital Chamber, and DeFi Education Fund jointly issued a statement emphasizing the bill’s core objective of establishing a comprehensive regulatory framework for stablecoins, and called on lawmakers to maintain forward momentum.
