US Senator: The stablecoin bill has deleted the Trump family statement, and the Senate plans to pass it before May 26

Odaily News The U.S. Senate may pass a bipartisan stablecoin bill, the GENIUS Act, as early as next week after removing references to President Trump and his family's cryptocurrency interests. Republican Senator Cynthia Lummis believes that passage by May 26 is a "reasonable goal." Democratic Senator Kirsten Gillibrand said the bill's wording has been revised to remove clauses targeting Trump's cryptocurrency projects, such as Meme coins. The revised bill has improvements in consumer protection and other aspects, and is not focused on Trump's moral issues, but is intended to regulate the field of stablecoins. Previously, Senate Democrats withdrew their support on May 8 because they were worried that the bill would not address Trump's profitable cryptocurrency transactions.
Coinbase CEO Brian Armstrong hopes the Senate will vote early next week, but declined to comment on the impact of Trump's Meme coin on the bill. The cryptocurrency industry is pushing Congress to pass the bill and another market structure bill before the midterm elections on November 3, 2026. Industry insiders say the time window for passing legislation before the midterm elections is narrow, and Trump is expected to sign the two bills before the August recess. (Cointlegraph)