Challenges Persist for Stablecoin Legislation in U.S. Senate

According to PANews, U.S. Senator Cynthia Lummis highlighted the difficulties faced in advancing the stablecoin legislation known as the GENIUS Act during the Bitcoin 2025 conference. She expressed surprise at the complexity of the process, stating, "This is incredibly difficult, and I had no idea it would be this challenging." The bill recently surpassed the procedural vote threshold with over 60 votes, moving into the final discussion phase before a decisive vote. However, it previously encountered opposition from bipartisan figures, including Democratic Senator Elizabeth Warren. Lummis noted that if passed, the bill, co-sponsored with New York Senator Kirsten Gillibrand, would mark the first successful legislation from the Senate Banking Committee in eight years. She also revealed ongoing behind-the-scenes coordination with the House of Representatives on the market structure bill, which gained legislative experience following the passage of the FIT21 Act last year.