The U.S. Senate plans to vote on the stablecoin bill before May 26.

GateUser-6433627c · 2025-04-30T09:46:55+00:00

The U.S. Senate plans to vote by May 26 on the stablecoin bill, which aims to restrict the issuance of payment-based stablecoins. Democratic lawmakers are concerned that Trump's close ties to related companies could lead to conflicts of interest.

GateUser-6433627c

2025-04-30 09:46:55

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[The U.S. Senate plans to vote on the stablecoin bill by May 26] According to Politico, Senate Majority Leader John Thune stated in a closed-door meeting that the Senate will address the “GENIUS Act” proposed by Senator Bill Hagerty by May 26. The bill was passed by the Senate Banking Committee in March and aims to restrict any entity, other than “licensed payment stablecoin issuers,” from issuing payment stablecoins. The House has also introduced a complementary bill known as the “STABLE Act.” Democratic lawmakers criticized Trump for his close ties with related stablecoin companies, fearing it could lead to “unprecedented conflicts of interest.”

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