US Senate To Hold Final Vote On Stablecoin Bill On June 17

The stablecoin bill could move a further step toward becoming law as soon as next week. This comes following reports that the US Senate will vote on the final passage of the GENIUS Act on June 17.

US Senate To Vote On Stablecoin Bill Next Week

In an X post, Journalist Eleanor Terrett revealed that the Senate will vote on the final passage of the GENIUS Act on June 17, which is next Tuesday. The vote will come up at a time that the Majority Leader will determine.

The Senate will then proceed to call a roll call vote on passage of the stablecoin bill. For the final passage, the bill would require only a simple majority, that is, 51 of the senators, to advance to the next stage.

The Senate had earlier this week invoked cloture on the GENIUS Act, with 68 to 30 voting in favor of the bill. This led to the amendment of the bill, which now includes changes that Democrats look to be more comfortable with.

The amendment introduced a state-level regulation for smaller stablecoin issuers under $10 billion, ensuring transparency. If passed, the stablecoin bill will head to the US House, where the representatives will also deliberate on it and make any amendments if necessary. Both chambers would then converge to pass the final draft.

Once that is done, the GENIUS Act will head to the White House for the president’s assent. Donald Trump has already shown his support for the bill and will likely sign the bill into law.

Senator Bill Hagerty, who introduced the bill, has shown confidence that the stablecoin bill will scale through this final hurdle in the Senate. In an X post, he urged his colleagues to complete the job that they had started.

The GENIUS Act could become the first major regulatory framework for the crypto industry. Meanwhile, the US House is currently deliberating on the CLARITY Act, another major crypto legislation. The bill just passed the Committee markup phase and will head to the House floor for a full debate.