U.S. Senate Majority Leader Expected to Vote on Stablecoin Bill Before May 26

Odaily News According to Politico, U.S. Senate Majority Leader John Thune said in a closed-door meeting that the Senate will vote on the stablecoin regulation bill before the Memorial Day holiday on May 26. The bill is the Guidance and Establishment of a National Innovation for Stablecoins in the United States (GENIUS Act), which was proposed by Senator Bill Hagerty in February and passed by the Senate Banking Committee in March. The House of Representatives also proposed a matching STABLE Act. World Liberty Financial, supported by the Trump family, launched the dollar-pegged stablecoin USD1, which has aroused Democrats' concerns about potential conflicts of interest.