Tag #Genius Act

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abcnews.go.com

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Jun 9, 16:12

Senate Passes Bipartisan Crypto Bill Amid Trump Conflict Concerns

The Senate passed the bipartisan GENIUS Act, regulating stablecoins, despite Democratic divisions over President Trump's crypto involvement and industry campaign spending that heavily influenced the 2024 election.

Senate Passes Bipartisan Crypto Bill Amid Trump Conflict Concerns

The Senate passed the bipartisan GENIUS Act, regulating stablecoins, despite Democratic divisions over President Trump's crypto involvement and industry campaign spending that heavily influenced the 2024 election.

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What are the immediate impacts of the bipartisan support for the GENIUS Act on the cryptocurrency industry and the political landscape?

The GENIUS Act, aiming to regulate stablecoins, passed the Senate with bipartisan support despite Democratic divisions. Key disagreements centered on excluding the President and his family from profit restrictions, highlighting concerns about potential conflicts of interest. Heavy cryptocurrency industry spending in the 2024 election significantly influenced the political landscape.

forbes.com

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Jun 4, 16:15

GENIUS Act Faces Criticism for Stifling Stablecoin Innovation

The GENIUS Act, a Senate bill regulating stablecoins, is criticized for potentially stifling innovation by restricting issuers and creating a multi-agency review committee, contradicting Vice President Vance's recent call for less government intervention in the economy; critics argue for a simpler f...

GENIUS Act Faces Criticism for Stifling Stablecoin Innovation

The GENIUS Act, a Senate bill regulating stablecoins, is criticized for potentially stifling innovation by restricting issuers and creating a multi-agency review committee, contradicting Vice President Vance's recent call for less government intervention in the economy; critics argue for a simpler f...

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How does the GENIUS Act's proposed regulatory framework potentially affect competition and innovation in the payments sector?

The proposed legislation's restrictions on non-financial companies issuing stablecoins and the creation of a multi-agency review committee are seen as counterproductive to fostering competition and innovation in the payments sector. This approach contrasts sharply with the principle of protecting consumers from fraud, which would be a simpler, more efficient regulatory model. The act's focus on financial stability, which has historically failed, is a further concern.

euronews.com

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May 22, 13:11

Bitcoin Hits Record High Amidst GENIUS Act Progress and Institutional Investment

Bitcoin hit a record high of \$111,000 on Thursday, fueled by the Senate's progress on the GENIUS Act, a stablecoin regulatory bill, and massive institutional investment, exceeding its previous high set during President Trump's inauguration, despite concerns about the US debt burden.

Bitcoin Hits Record High Amidst GENIUS Act Progress and Institutional Investment

Bitcoin hit a record high of \$111,000 on Thursday, fueled by the Senate's progress on the GENIUS Act, a stablecoin regulatory bill, and massive institutional investment, exceeding its previous high set during President Trump's inauguration, despite concerns about the US debt burden.

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What are the immediate impacts of the GENIUS Act's progress on Bitcoin's price and market sentiment?

Bitcoin reached a record high of \$111,000 on Thursday, exceeding its previous peak during President Trump's inauguration. This surge follows a key Senate vote clearing the GENIUS Act, a stablecoin regulatory bill, and significant institutional investment, including a \$765 million purchase by Michael Saylor's firm.

cnn.com

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May 20, 07:12

Senate Passes Bipartisan Stablecoin Bill Despite Ongoing Concerns

The Senate voted 66-32 to pass the bipartisan GENIUS Act, regulating stablecoins, following negotiations to address concerns about the bill's effectiveness and President Trump's cryptocurrency dealings; despite some Democrats' continued opposition.

Senate Passes Bipartisan Stablecoin Bill Despite Ongoing Concerns

The Senate voted 66-32 to pass the bipartisan GENIUS Act, regulating stablecoins, following negotiations to address concerns about the bill's effectiveness and President Trump's cryptocurrency dealings; despite some Democrats' continued opposition.

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How did negotiations between Republicans and Democrats resolve initial concerns about the GENIUS Act, leading to its advancement?

Despite initial Democratic opposition due to concerns about President Trump's cryptocurrency dealings and the bill's perceived weakness, negotiations led to amendments securing enough Democratic support for passage. The legislation represents a rare bipartisan effort to regulate a rapidly evolving financial technology sector.

cnn.com

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May 9, 01:17

Senate Blocks Bipartisan Cryptocurrency Bill Amid Trump Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a 49-48 vote due to Democratic concerns over insufficient consumer and national security protections and President Trump's cryptocurrency dealings, despite bipartisan support in the Senate Banking Comm...

Senate Blocks Bipartisan Cryptocurrency Bill Amid Trump Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a 49-48 vote due to Democratic concerns over insufficient consumer and national security protections and President Trump's cryptocurrency dealings, despite bipartisan support in the Senate Banking Comm...

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What were the key reasons behind the Senate's failure to advance the bipartisan GENIUS Act aimed at regulating stablecoins?

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a vote of 49-48. Nine Senate Democrats withheld their support due to concerns about insufficient consumer protections, national security risks, and the potential for the bill to exacerbate President Trump's cryptocurrency dealings. This highlights the challenges of achieving bipartisan consensus on complex regulatory issues.

cbsnews.com

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May 8, 22:15

Senate Rejects Bipartisan Crypto Bill Amid Trump Family Concerns

The Senate voted 48-49 against the GENIUS Act, a bill to regulate stablecoins, due to last-minute Democratic opposition over concerns about President Trump's family's involvement in cryptocurrency and perceived conflicts of interest, leaving the US without a stablecoin regulatory framework.

Senate Rejects Bipartisan Crypto Bill Amid Trump Family Concerns

The Senate voted 48-49 against the GENIUS Act, a bill to regulate stablecoins, due to last-minute Democratic opposition over concerns about President Trump's family's involvement in cryptocurrency and perceived conflicts of interest, leaving the US without a stablecoin regulatory framework.

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What caused the Senate to reject the GENIUS Act, and what are the immediate consequences of this failure?

The Senate rejected the GENIUS Act, a bipartisan bill aiming to regulate stablecoins, by a 49-48 vote. The bill's failure stems from late-stage Democratic opposition fueled by concerns over President Trump's family's cryptocurrency investments and perceived conflicts of interest. This rejection leaves the U.S. without a stablecoin regulatory framework.

us.cnn.com

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Jun 5, 19:13

GENIUS Act Could Usher in Mainstream Adoption of Stablecoins

The Senate is considering the GENIUS Act, a bill that would regulate stablecoins, a type of cryptocurrency pegged to the value of another asset, such as the US dollar; the total market value of stablecoins surged from \$20 billion in 2020 to \$246 billion in May 2025.

GENIUS Act Could Usher in Mainstream Adoption of Stablecoins

The Senate is considering the GENIUS Act, a bill that would regulate stablecoins, a type of cryptocurrency pegged to the value of another asset, such as the US dollar; the total market value of stablecoins surged from \$20 billion in 2020 to \$246 billion in May 2025.

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What is the significance of the GENIUS Act's potential passage for the stablecoin market and the broader financial industry?

The GENIUS Act, a landmark bill nearing Senate approval, aims to regulate stablecoins, cryptocurrencies pegged to fiat currencies like the dollar. This could legitimize the crypto industry and boost stablecoin usage in digital payments, significantly impacting the financial sector.

forbes.com

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Jun 2, 22:10

Circle's $7.2B IPO: A Bet on Regulated Crypto Finance

Circle, the company behind the second-largest stablecoin USDC, is initiating an initial public offering (IPO) on the New York Stock Exchange, offering 32 million Class A shares at $27-28 per share, with a targeted valuation of $7.2 billion; this comes amid growing stablecoin market adoption and regu...

Circle's $7.2B IPO: A Bet on Regulated Crypto Finance

Circle, the company behind the second-largest stablecoin USDC, is initiating an initial public offering (IPO) on the New York Stock Exchange, offering 32 million Class A shares at $27-28 per share, with a targeted valuation of $7.2 billion; this comes amid growing stablecoin market adoption and regu...

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What is the significance of Circle's IPO for the cryptocurrency and traditional finance industries?

Circle, the issuer of USDC, the second-largest stablecoin, is going public on the NYSE, offering 32 million Class A shares at $27-28 per share, aiming for a $7.2 billion valuation. This IPO is significant because it represents a major step for the stablecoin market's integration into traditional finance, particularly given USDC's regulatory compliance.

nbcnews.com

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May 20, 07:13

Senate Advances Bipartisan Stablecoin Regulation Bill After Compromise

The Senate advanced the bipartisan GENIUS Act (66-32), establishing a stablecoin regulatory framework, after a negotiated amendment addressed Democratic concerns about consumer protection and tech company involvement, despite some Democrats' continued opposition due to the Trump family's crypto deal...

Senate Advances Bipartisan Stablecoin Regulation Bill After Compromise

The Senate advanced the bipartisan GENIUS Act (66-32), establishing a stablecoin regulatory framework, after a negotiated amendment addressed Democratic concerns about consumer protection and tech company involvement, despite some Democrats' continued opposition due to the Trump family's crypto deal...

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What are the key compromises and sticking points that led to the bipartisan support for advancing the GENIUS Act?

The bill's passage reflects a compromise between those seeking regulation and those raising concerns about potential risks and political influence. The amendment incorporates concessions on consumer safeguards and restrictions on tech firms issuing stablecoins but leaves some Democrats unsatisfied. The Trump family's crypto activities fueled Democratic opposition.

cbsnews.com

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May 20, 01:10

Senate to Revote on Stablecoin Regulation Bill Amid Trump Family Crypto Concerns

The Senate will revote Monday on the GENIUS Act, a bipartisan bill creating a regulatory framework for stablecoins, after initial failure due to concerns about the Trump family's crypto ties; at least one Democrat now supports the measure, but significant opposition remains.

Senate to Revote on Stablecoin Regulation Bill Amid Trump Family Crypto Concerns

The Senate will revote Monday on the GENIUS Act, a bipartisan bill creating a regulatory framework for stablecoins, after initial failure due to concerns about the Trump family's crypto ties; at least one Democrat now supports the measure, but significant opposition remains.

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What are the immediate implications of the Senate's revote on the GENIUS Act for the stablecoin market and national security?

The Senate will revote on the GENIUS Act, a bill regulating stablecoins, after an initial failure due to concerns about the Trump family's crypto ties. The bill aims to create a regulatory framework for the nearly $250 billion stablecoin market, addressing consumer protection and national security. At least one Democrat now supports it, but opposition remains.

edition.cnn.com

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May 9, 01:17

Senate Blocks Bipartisan Stablecoin Bill Amid Trump Crypto Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a vote of 49-48, due to Democratic concerns over President Trump's cryptocurrency dealings and insufficient consumer protections, despite initial bipartisan support and committee passage.

Senate Blocks Bipartisan Stablecoin Bill Amid Trump Crypto Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a vote of 49-48, due to Democratic concerns over President Trump's cryptocurrency dealings and insufficient consumer protections, despite initial bipartisan support and committee passage.

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How did President Trump's cryptocurrency dealings influence the Democrats' decision to block the bill?

Democratic opposition stemmed from worries that the bill, in its current form, would exacerbate Trump's potential conflicts of interest and inadequately safeguard consumers. Their concerns, expressed in a letter last Saturday, highlighted weaknesses in anti-money laundering, national security, and financial system protections. This bipartisan effort, initially advancing with 18-6 support in the Senate Banking Committee, ultimately failed due to these unresolved issues and the short timeframe for revisions.

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