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The Coin Rise 2025-05-17 18:47:20

Senator Hagerty Says Historic Stablecoin Bill Will Pass Next Week

Senator Hagerty Says Historic Stablecoin Bill Will Pass Next Week

After months of debate and delay, the United States Senate is finally taking a step forward on stablecoin regulation. Senator Bill Hagerty has announced that the U.S. Senate is ready to pass the GENIUS Act next week. This bill would create the first official rules for stablecoins. His announcement comes as pressure mounts on lawmakers to bring regulatory clarity to the fast-growing digital asset space. Sen Hagerty Signals Green Light for Stablecoin Bill In a recent X post , Senator Bill Hagerty revealed that the Senate will make history when it passes the Guaranteed Essential National Infrastructure for Ubiquitous Stablecoins (GENIUS) Act. This new law is poised to establish the first-ever pro-growth regulatory framework for payment stablecoins in the United States. Senator Bill Hagerty, a close ally of President Donald Trump , has been one of the most vocal supporters of the stablecoin bill. He believes that passing the law is urgent and necessary to secure America’s role in the digital financial world. His optimism follows the Senate’s earlier failure to advance the bill, which drew widespread criticism and concern from the crypto community. Stablecoin Bill Aims to Protect the Dollar and Drive Growth Senator Hagerty said the bill will help maintain the U.S. dollar’s dominance in the global digital economy. Stablecoins are backed by U.S. Treasury bonds, which could boost demand for these bonds and help the U.S. economy grow. The bill also aims to ensure that American companies, not foreign ones, lead in creating digital payment systems. On the other hand, some people fear that if the bill is not approved, the U.S. might fall behind in the digital finance space. Lawyer John Deaton recently warned that without the GENIUS Act, crypto laws may not progress until 2029. He asserted that this would be a major setback for the industry. Bipartisan Support from Key Lawmakers Senator Kirsten Gillibrand also supports the GENIUS Act. She said it is important for the U.S. to pass laws that protect users while helping new ideas grow. She explained that stablecoins are already important in the global economy . The GENIUS Act, she said, gives clear rules, protects people, and helps keep the U.S. dollar strong. Gillibrand also said the bill is a true bipartisan effort, and she hopes it will pass soon. Looking forward, Senate Majority Leader John Thune has set a cloture vote for Monday. This vote will decide whether the Senate can continue working on the bill. If the vote is successful, the GENIUS Act could become a law soon, which would be an important move for stablecoins and digital money in the U.S. The post Senator Hagerty Says Historic Stablecoin Bill Will Pass Next Week appeared first on TheCoinrise.com .

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