The US Senate is moving forward with a bipartisan stablecoin bill, potentially passing it by May 26 after removing provisions that targeted President Trump's crypto interests. Senators Kirsten Gillibrand and Cynthia Lummis announced the adjustments at a crypto event, clarifying that the bill aims to focus on comprehensive regulation of stablecoins rather than addressing Trump's ethical concerns entirely. Gillibrand noted that some ethics requirements would be included, but the primary goal remains consumer protection and clear regulations around stablecoin issuance. With the midterm elections approaching in November 2026, the crypto industry is urging swift legislative action to avoid potential regulatory backlash from a future administration. Both senators emphasized the importance of passing the GENIUS Act and other crypto-related bills before Congressional recess in August. Meanwhile, Coinbase CEO Brian Armstrong expressed optimism for the bill's passage early next week, underscoring the industry’s urgency for regulatory clarity.

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