Crypto lobby urges U.S. Senate to pass GENIUS Act as soon as possible "
Online reports, Cointelegraph reported that the U.S. Senate is about to debate the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. Crypto lobby groups are calling on senators to pass the bill as soon as possible because proposed amendments to credit card fees could delay the bill. The bill passed a procedural vote in May and is expected to receive enough votes to pass the Senate and be submitted to the House this week. Crypto groups such as the Blockchain Association, Crypto Council for Innovation, Digital Chamber and DeFi Education Fund jointly stated that the core goal of the bill is to provide a comprehensive solution to stablecoin regulation, and called on lawmakers to maintain the momentum of active advancement.
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