US Senate to vote on stablecoin bill on Thursday

Odaily News The U.S. Senate is scheduled to hold a key vote on the GENIUS Stablecoin Act on Thursday. The bill requires stablecoins to be fully backed by liquid assets such as the U.S. dollar and short-term Treasury bonds. Since 60 votes are needed to pass, the Republicans need to win the support of the Democrats. Currently, several Democratic senators have expressed opposition due to insufficient foreign investment supervision and anti-money laundering clauses, and there are also differences within the Republican Party. At the same time, the Democratic Party is investigating Trump’s connection with the cryptocurrency industry. (The Block)