The Senate Majority Leader has submitted a motion to end debate on the GENIUS Act, which will be voted on May 19.

[The Senate Majority Leader has submitted a motion to end debate on the GENIUS Act, which will be voted on May 19] Senate Majority Leader John Thune has officially submitted a motion to end debate on the GENIUS Act, scheduled for a vote on May 19. This stablecoin regulatory bill requires that issuers with assets exceeding $10 billion be regulated by The Federal Reserve (FED), while smaller institutions are regulated at the state level; all stablecoins must be fully supported by assets such as USD or government bonds. The latest bipartisan amendment aims to add three provisions: 1) stricter rules for tech companies involved in financial assets; 2) strengthening consumer protection mechanisms; 3) increasing oversight of government officials (including individuals like Musk). The House of Representatives had previously passed a similar STABLE Act, requiring complete transparency in the operations of stablecoin issuers such as USDT. If the bill is passed, it will become the first federal legislative framework in the United States aimed at stablecoins. Senate sources revealed that the amendments include a clear prohibition on the misuse of FDIC insurance and strengthening bankruptcy protection clauses to garner bipartisan support. The outcome of this vote will directly affect the regulatory direction of the United States in the digital asset space.