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The U.S. Senate Banking Committee voted in favor of advancing the stablecoin-focused GENIUS Act to a full Senate vote Thursday, with the legislation receiving bipartisan support.
The bill passed through committee by a vote of 18-6, with five Senate Democrats joining Republicans to push the bill over the finish line with considerable breathing room.
Democrats who voted for the GENIUS Act’s passage include bill cosponsor Angela Alsobrooks (D-MD), as well as Senate Banking Committee members Mark Warner (D-VA), Andy Kim (D-NJ), Lisa Blunt Rochester (D-DE), and Ruben Gallego (D-AZ).
The bill’s sponsor, Bill Hagerty (R-TN), said he intends for the bill to receive a full vote on the Senate floor by the end of April.
A massive move in Washington today. The GENUIS Act passed out of Senate Banking with a strong and bi-partisan 18-6 vote. This is a huge step towards providing regulatory clarity for stablecoins, and a huge step towards upgrading and making the dollar more competitive.
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) March 13, 2025
“The Banking Committee’s strong bipartisan passage of the GENIUS Act …
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