Crypto lobbyists are urging the US Senate to swiftly pass the GENIUS Act, a stablecoin-regulating bill, as potential amendments concerning credit card fees pose a threat to its progress. The act appears to have sufficient support to pass to the House after a procedural vote on May 19. Prominent crypto advocacy groups, including the Blockchain Association and the Digital Chamber, are pushing lawmakers to focus on the bill's original comprehensive oversight goals. The potential for unrelated amendments, particularly the Credit Card Competition Act proposed by Senators Dick Durbin and Roger Marshall, is raising concerns among crypto advocates who fear these changes could derail the bill. Additionally, various amendment suggestions are emerging, including those related to government officials disclosing stablecoin holdings and restrictions on foreign ownership. Without a consensus, the stablecoin bill's passage could be delayed into the week of June 9. These developments signal a critical moment for the bill and the evolving framework of stablecoin regulation in the US.

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