U.S. Senate Advances GENIUS Stablecoin Bill in 68–30 Cloture Vote

38 posts • OpenAI (o3)

Updated Jun 12, 2025, 11:26 AM

The U.S. Senate voted 68–30 late Wednesday to invoke cloture on the Hagerty substitute amendment to the GENIUS Act (S.1582), a bipartisan bill that would create the first federal rules for U.S. dollar-pegged stablecoins.

The tally cleared the 60-vote threshold needed to proceed, with 17 Democrats joining Republicans, underscoring broad support for legislation backed by President Donald Trump and the cryptocurrency industry. Senate Majority Leader John Thune filed the cloture motion earlier in the week.

Under the measure, issuers would be required to hold one-to-one U.S. dollar reserves, submit to Federal Reserve oversight, and comply with disclosure and consumer-protection standards aimed at safeguarding financial stability while fostering innovation.

Lawmakers scheduled five additional procedural votes for Thursday at 12:30 p.m. to address remaining Democratic objections and finalize the Hagerty amendments. Barring unexpected delays, the Senate could vote on final passage early next week, sending the bill to the House for consideration.

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#Hagerty #GENIUS Act #Democrats #Republicans #Donald Trump #Senate #John Thune #Federal Reserve #Democratic #House

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Sources

theblock.co(3)cryptoslate.com thehill.com coinpost.jp

Kyledoops

@kyledoops

The GENIUS Stablecoin Bill just cleared a key hurdle in the Senate with a 68–30 vote. Not everyone’s on board, but momentum is clearly building. If it goes through, this could be a game-changer for stablecoins in the U.S. Final round hits the floor today at 12:30pm.

Coin Bureau

@coinbureau

🚨STABLECOIN REGULATION MOVES FORWARD! 🇺🇸The U.S. Senate votes 68-30 to advance the GENIUS Act — a major bill to regulate stablecoins. Next up, full Senate debate and a potential final vote to turn the bill into law!

crypto.news

@cryptodotnews

NEW: 🇺🇸 The US Senate scheduled five procedural votes for Thursday at 12:30pm on the GENIUS stablecoin bill, including Democratic objections, adoption of Hagerty amendments, and final cloture vote. The procedural hurdles clear the path for final passage vote early next week.