The Senate voted Wednesday to advance laws establishing a regulatory framework for cost stablecoins, bringing the crypto invoice one step nearer to a ultimate vote within the higher chamber.
Eighten Democrats voted with nearly each Republican to finish debate on an up to date model of the GENIUS Act.
The brand new invoice textual content was reached as a part of prolonged negotiations between Republicans and crypto-friendly Democrats final month, forward of an earlier procedural vote on the Senate ground.
The vote breakdown was largely just like the Could vote, though the invoice picked up help from Sens. John Hickenlooper (D-Colo.) and Andy Kim (D-N.J.) whereas Sen. Lisa Blunt Rochester (D-Del.) switched her vote to oppose the measure.
Blunt Rochester had supported the invoice each within the Senate Banking Committee in March and on the Senate ground final month.
She voiced some hesitation Tuesday about Senate management’s determination to forgo an open modification course of on the GENIUS Act, emphasizing she hoped to see further adjustments to the invoice.
“I used to be actually clear,” she informed The Hill. “I hoped that there can be an open modification course of, and that’s what I heard Chief Thune say round final month, so I’ll check out this language, and we’ll decide from there.”
Senate Majority Chief John Thune (R-S.D.) in the end scrapped the push for so-called “common order,” as controversial amendments — most notably, Sen. Roger Marshall’s (R-Kan.) Credit score Card Competitors Act — threatened to upend help for the invoice.
The GENIUS Act possible faces a handful extra votes earlier than it may well clear the Senate and head to the Home. Sen. Cynthia Lummis (R-Wyo.) informed The Hill on Tuesday that she expects a ultimate vote on the invoice subsequent week.
