Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Senate stablecoin bill may return to vote after Trump-linked crypto dispute

Senate stablecoin bill may return to vote after Trump-linked crypto dispute

Crypto.NewsCrypto.News2025/05/14 16:00
By:By Micah ZimmermanEdited by Jayson Derrick

The U.S. Senate’s effort to regulate stablecoin issuers could soon return to the floor, following a week of stalled progress tied to partisan concerns over President Donald Trump’s crypto connections. 

Lawmakers are close to finalizing updated language in the bill, which may be brought forward procedurally as early as Thursday.

The legislation — known as the GENIUS Act — aims to establish a federal framework for stablecoins.

A previous version passed the Senate Banking Committee with bipartisan support but failed to advance in a cloture vote last week when all Democrats and two Republicans opposed it. Senate Majority Leader John Thune later flipped his vote in a procedural move to keep the bill alive.

Trump’s dubious stablecoin ties

One sticking point for Democrats was Trump’s indirect ties to stablecoin issuer World Liberty Financial, linked to a deal involving Binance and Abu Dhabi’s MGX. However, the revised bill does not include language addressing this, according to CoinDesk reporting .  

Senator Kirsten Gillibrand acknowledged that while the bill includes general ethics measures, it is “not an ethics bill per se.”

Senator Cynthia Lummis (R-Wyo.), co-sponsor of the bill, urged lawmakers to focus on regulatory clarity rather than political distractions. “I don’t want the fact that President Trump’s name comes up… to distract us from the important goal,” she said at a Wednesday event.

The House is also advancing a separate stablecoin bill. If both chambers align, it could mark a major shift in how the U.S. approaches digital dollar regulation.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!