The U.S. stablecoin bill "GENIUS Act" accelerates voting! Senate Majority Leader: It's time for Crypto Assets to enter mainstream finance.

The U.S. Senate passed the GENIUS Act 68-30 to suspend arguments, accelerating the regulatory framework for stablecoins, highlighting the importance Washington attaches to cryptocurrencies today. (Synopsis: Bank of America CEO: is developing its own stablecoin, Tether CEO secretly choked: it’s time to decide) (Background supplement: South Korea submits “stablecoin bill”, allowing domestic companies to issue and must have sufficient reserve assets) The attitude of the US Congress towards cryptocurrencies is clearly accelerating. The Senate passed the motion to end the debate in the GENIUS Act 68 to 30, and the bill entered the final process before the unanimous vote, one step closer to establishing a clear regulatory framework for stablecoins. Majority Leader John Thune explained after the vote that more and more Americans are using stablecoins, and integration into the mainstream financial system is inevitable. “More and more Americans are using cryptocurrencies, including stablecoins, cryptocurrencies are here to stay, and it’s time to bring them into the mainstream,” he said publicly. SEN. THUNE: “Cryptocurrency is here to stay and it’s time that we bring it into the mainstream.” pic.twitter.com/0coHlZjr4K — Cointelegraph ( @Cointelegraph) June 12, 2025 According to a Senate press release, the GENIUS Act requires stablecoin issuers to: Hold sufficient reserves and disclose them regularly. Comply with U.S. sanctions and monitor suspicious capital flows. Cooperate with federal regulators to ensure financial stability. The cessation motion crossed the 60-vote threshold, indicating that the bipartisan consensus that clear rules reduce market risk can move forward quickly and enter the voting stage. Some Democratic lawmakers still have reservations about consumer protection, but they haven’t blocked the agenda. Fast adoption, jump in trading volume Market data accounts for changes in scale. According to Gemini’s 2025 State of Global Crypto Report, crypto adoption in the U.S. has increased from 20% to 22%. Nearly 39% of investors own crypto ETFs, and half of citizens born after 1995 have been exposed to digital assets. According to Bank of America, stablecoin trading volume has skyrocketed from $560 billion in 2020 to $5.7 trillion in 2024. Demand on the enterprise side is also strong. According to the Fireblocks survey, about 90% of institutions are using or planning to use stablecoins, mostly for cross-border payments and liquidity management. Visa and Mastercard have also incorporated stablecoin functionality into the Payment network. The path is gradually clear Market expansion comes with risks. This year’s First Digital USD (FDUSD) was briefly de-struck, once again exposing reserve transparency and regulatory loopholes. Proponents argue that the GENIUS Act, once implemented, would provide a legal basis and require transparency to reduce decoupling incidents. Washington’s previous executive order has included stablecoins in global financial infrastructure considerations, and now legislation is on the fast track, meaning stablecoins are closer to “regular army” status. Next, the House of Representatives moves with Trump to sign the time, which will determine the timing of the final decree. Related reports Bank of America CEO: is developing its own stablecoin, Tether CEO secretly choked: it’s time to win Airwallex CEO choked “stablecoins are useless”: cross-border fees are higher than fiat currencies; Remarks quote the currency circle to denounce the US stablecoin bill “GENIUS Act” to accelerate the vote! Senate Majority Leader: It’s Time to Let Cryptocurrencies Enter the Mainstream Finance" This article was first published on BlockTempo’s “The Most Influential Blockchain News Media”.