Senator Hagerty’s GENIUS Act advances out of banking committee with bipartisan support despite Elizabeth Warren’s warnings about crypto risks and consumer protection concerns.

The bill’s sponsors say they intend for the GENIUS Act to receive a full vote on the Senate floor by the end of next month.

The stablecoin bill sponsored by Senator Bill Hagerty (R-TN) is moving to the next stage of the legislative process after securing support from the Senate Banking Committee with a bipartisan 18-6 vote.

The United States Senate Banking Committee elected to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in an 18-6 vote. None of the amendments proposed by Senator Elizabeth Warren made it into thebill,

The first committee approval of a stablecoin bill in this new congressional session now moves the so-called GENIUS Act toward the Senate floor.

The Senate Banking Committee voted Thursday to advanced legislation to create a regulatory framework for payment stablecoins. The movement on the GENIUS Act marks a key win for the Trump

Senator Bill Hagerty led the legislation with support from Tim Scott, the committee’s chairman, as well as Senators Kirsten Gillibrand, Cynthia Lummis, and

The GENIUS Act was introduced by Senators Bill Hagerty (R-Tenn.), Kirsten Gillibrand (D-N.Y.), Cynthia Lummis (R-Wyo.), and Angela Alsobrooks (D-Md.).