In 68-30 votes, the US Senate chose to progress and create the national innovation of the American Stablecoins, or the Genius Act, more than a month after its introduction.
Speaking from the Senate Hall on Wednesday, major leader John Thun Urging Members of the Congress to support the bill, chanting many points of dialogue by Donald Donald Trump on digital assets, including the legislation will help to make the United States “the world of encryption in the world”.
The majority of the Senate members, including many Democrats, voted to summon the stroke to the draft law, put it in the discussion and a full vote on the floor before sending it to the House of Representatives for more attention.
“We want to bring an encrypted currency to the main current, and the genius law will help us to do so,” said Thun.
Thun said that there is “more work to be done” for Congress in relation to digital assets, referring to a separate bill in the market structure that is considered in the House of Representatives. On Tuesday, two committees at home Voice to pay the billAnd he called the law of clarity, and perhaps preparing it to fully vote on the floor soon.
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Senator Elizabeth Warren of Massachusetts from the Senate Hall, saying that there are “basic problems” with the genius law that he failed to address by not voting on some partisan modifications. It also repeated the fears of many Democrats Trump’s relationships with the family -backed encryption platform The world is financial freedom, holders of a reward from Mimikoen with dinner and access to the president.
Warren said: “Through his work in the field of encryption, Trump created an effective way to trade the preferences of the presidency, such as customs tariff exemptions, pardon and government appointments for hundreds of millions, and perhaps billions of dollars from foreign governments, billionaires, and from large companies,” Warren said. “By passing the genius law, the Senate is not about to bless this corruption, but to facilitate its activity.”
“The genius law is full of gaps and contains weak guarantees for consumers, national security and financial stability.”
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Although many Democrats voted to summon the clot, at the time of publication, some were continuing a request that Republicans would consider amending the genius law. It is unclear whether the bill has enough support to pass the room, as Republicans carry a small majority.
After the first failure to vote in May, “AI and Crypto CZAR”, David Sacks, The White House said The Genius Act of the Senate will pass with the support of the two parties. The draft law accompanying Stablecoins in the House of Representatives, the stable law, is still being considered by the Financial Services Committee as of May.
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