Will the law on engineering law on May 19: will the United States finally regulate stablecoins? appeared first on Coinpedia Fintech News
The American Senate is preparing to vote on the GENIUS ACT (emission law and guaranteed electronic guarantees) on May 19, 2025. The Bipartite bill, co-packed by senator Bill Hagerty (R-TN) and Senator Kirsten Gillibrand (D-NY), aims to establish the The first regulatory framework for payment stables In the United States.
HAGERTY EYES Bippartisan Breakthrough
Senator Hagerty remains optimistic despite the rock trip of the bill. On May 8The act of genius fell below the Threshold of 60 vote Required for the end –Only 48 senators voted in favorwhile 49 opposite. The concerns of Democrats included:
- Measures to combat the money laundering of weak money (LMA)
- Lack of surveillance on Stablecoins issued abroad
- Insufficient consumer protection mechanisms
In response, Bipartite negotiations have led to key changes. Fox Business Reporter Eleanor Terrett confirmed on X that the revised version includes:
- Improved customer guarantees
- Lighter Protection against bankruptcy for stable holders
- Ethical restrictions, Skip large technological companies (such as Meta, Google) and individuals like Elon Musk from the Stablecoins show
These additions aim to gain the support of prudent legislators and to ensure that the bill aligns about the protection of investors and the national security objectives.
Stablescoin market: a sector of 246 billion dollars awaits regulations
The timing is crucial. The global The Stablescoin market is now more than $ 246 billionwith USDT de Tether ($ 151 billion) And USDC du Cercle ($ 61 billion) Direct the load. These tokens, fixed 1: 1 with a fiduciary currency, are essential for merchants, institutions and fintech innovators.
User cases increase quickly. MasterCard Partnership with Moonpay Active Stablecoin payments for 150 million merchants worldwide—Apther validate the need for regulation.
Senator Hagerty maintains that the engineering law would be:
- Cement it The domination of the US dollar in the digital economy
- Increase Request for US Treasury Voyage
- Encourage Fintech innovation to stay inside American borders
Can genius pass?
To pass, the Senate demands 60 votes. To date May 17, 2025The bedroom makeup is:
- Democrats (including independent): 51 seats
- Republicans: 49 seats
Without part holding a majority to the test of obstacles, the success of the bill depends bipartite cooperation. If 9–11 moderate democrats or republicans turn in favor, the engineering law could mark a Historical regulatory milestone For Crypto.
