US Senate Majority Leader expects Stablecoin vote before May 26

Senate leader of the Senate John Thune was reported to have told Republican lawmakers that the Chamber would address a Stablecoin regulation bill before the May 26th Day holiday.

According to the April 29 Politico report, Thune made Comments at a closed-door meeting with Republican senators, holding a slim mostly in the room. The guide and establishment of national change for the US Stablecoins, or Genius Act, was introduced by Senator Bill Hagerty in February and Senate Banking Committee passed In March.

Thune did not do mention Any Bill related to Crypto or Blockchain to his public comments to US president Donald Trump’s First 100 days In the office. Since his inauguration on January 20, Trump signed several executive orders with the potential to affect US crypto policy, including an affecting stablecoins. However, many of the actions do not bring the law force without the action of Congress.

https://www.youtube.com/watch?v=KQZhvt77xkw

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The suggested genius bill could essentially restrict any creature other than a “permitted stablecoin issuer” from the release of a stablecoin payment to the United States. The House of Representative, also regulated by Republicans, has suggested an accompanying bill in the law: Stablecoin’s transparency and responsibility for a better ledger economy, or stable acts.

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The President’s executive order, signed on January 23, established a working group to study the potential creation and maintenance of a national crypto stockpile and a regulation framework for stablecoins. Republican lawmakers are followed by the introduction of stable and genius acts.