The Senate's GENIUS Act stablecoin bill has regained momentum after passing a key procedural vote. Following a previous failure less than two weeks ago, key Democrats reversed course, helping the bill secure over 60 votes for advancement towards a full Senate vote expected imminently. The legislation seeks to establish a regulatory framework for stablecoin issuance in the U.S., allowing crypto tokens pegged to assets like the U.S. dollar to be utilized for easy payments and functioning in digital asset trades. The revised draft includes concessions to address concerns about conflicts of interest, especially amid tensions related to President Trump’s involvement in crypto. New provisions prohibit senior executive branch officials from launching stablecoins, although exceptions for the president and vice president remain. With lobbying pressure from major industry players like Coinbase intensifying, the successful passage may funnel significant investments into the crypto market if the act becomes law, following House approval and the president's signature.

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