{"id":128239,"date":"2025-04-29T23:18:03","date_gmt":"2025-04-29T23:18:03","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128239"},"modified":"2025-04-29T23:18:03","modified_gmt":"2025-04-29T23:18:03","slug":"us-senate-majority-leader-expects-stablecoin-vote-before-may-26-report","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128239","title":{"rendered":"US Senate majority leader expects stablecoin vote before May 26 \u2014 Report"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsUS Senate Majority Leader John Thune reportedly told Republican lawmakers that the chamber would address a bill on stablecoin regulation before the May 26 Memorial Day holiday.<br \/>\nAccording to an April 29 Politico report, Thune made the comments in a closed-door meeting with Republican senators, who hold a slim majority in the chamber. The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, was introduced by Senator Bill Hagerty in February and passed the Senate Banking Committee in March.<br \/>\nThune did not mention any crypto or blockchain-related bills in his public comments on US President Donald Trump\u2019s first 100 days in office. Since his Jan. 20 inauguration, Trump has signed several executive orders with the potential to affect US crypto policy, including one affecting stablecoins. Still, many of the actions do not carry the force of law without an act of Congress.<br \/>\nRelated: $649B stablecoin transfers linked to illicit activity in 2024: Report<br \/>\nThe proposed GENIUS bill could essentially restrict any entity other than a \u201cpermitted payment stablecoin issuer\u201d from issuing a payment stablecoin in the United States. The House of Representatives, also controlled by Republicans, has proposed a companion bill to the legislation: the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act.<br \/>\nTrump accused of conflicts of interest over stablecoins, crypto ventures<br \/>\nThe president\u2019s executive order, signed on Jan. 23, established a working group to study the potential creation and maintenance of a national crypto stockpile and a regulatory framework for stablecoins. Republican lawmakers followed by introducing the STABLE and GENIUS acts.<br \/>\nTrump also introduced the order before World Liberty Financial, a crypto firm backed by the president\u2019s family, launched its US-dollar pegged USD1 stablecoin. Many Democratic lawmakers said that Trump\u2019s ties to the firm, coupled with his political influence and position, could present an \u201cextraordinary conflict of interest that could create unprecedented risks to our financial system\u201d as Congress considers the two stablecoin bills.<br \/>\nMagazine: Trump\u2019s crypto ventures raise conflict of interest, insider trading questions<a href=\"https:\/\/cointelegraph.com\/news\/senate-majority-leader-john-thune-stablecoin-bills?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsUS Senate Majority Leader John Thune reportedly told Republican lawmakers that the chamber would address a bill on stablecoin regulation before the May 26 Memorial Day holiday. According&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128239"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128239"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128239\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128239"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}