The U.S. Senate will hold a key vote on the GENIUS Act, a stablecoin regulatory bill, tonight

Odaily News According to Punchbowl News, the U.S. Senate will hold a key procedural vote on the stablecoin regulatory bill GENIUS Act as early as the evening of May 19 local time. The bill was proposed by Senator Bill Hagerty and aims to require stablecoin issuers to hold safe and liquid assets as reserves and comply with anti-money laundering regulations. Although the bill had previously received bipartisan support in the Senate Banking Committee, it failed to pass the vote on May 8, mainly because the Democrats expressed concerns about the Trump family's connection with crypto assets. Currently, Senator Mark Warner and others are pushing for a revision of the bill in order to reach a consensus between the two parties.