GENIUS Stablecoin Bill Set for Senate Floor Vote 17 June

The US Senate is set to hold a final vote on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act on Tuesday, 17 June, a key step toward shaping federal regulation of stablecoins.

According to a Thursday notice on the Senate Democrats’ official website, the exact timing will be determined by the Majority Leader in coordination with the Democratic Leader.

The GENIUS Act aims to create a unified regulatory framework for stablecoins, marking a potentially transformative moment for the digital asset industry.

The announcement comes on the heels of a procedural vote held on 12 June, signalling momentum for the bill’s advancement.

If passed, the legislation could provide long-awaited regulatory clarity as stablecoin trading and on-chain activity continue to gain traction.

John Thune Sees Stablecoin Bill as Key to Everyday Crypto Use

Speaking on the Senate floor Wednesday, Majority Leader John Thune urged his colleagues to support the GENIUS Act—a sweeping piece of legislation aimed at positioning the US as a global leader in digital assets.

The bill, which echoes several of former President Donald Trump’s pro-crypto policy positions, passed a key procedural hurdle in a 68-30 vote, more than a month after its introduction.

A bipartisan group of senators, including several Democrats, voted to invoke cloture, paving the way for floor debate and a final Senate vote before the bill moves to the House.

Thune emphasized that the GENIUS Act would help integrate cryptocurrency into daily life and laid out a broader vision for future legislative action.

He also referenced the CLARITY Act, a separate digital asset market structure bill currently gaining traction in the House, where two committees voted Tuesday to advance it toward a full vote.

Analysts suggest the GENIUS and CLARITY Acts together could give the US a regulatory edge on the global stage, offering a comprehensive legal framework that may shape how other nations govern cryptocurrencies.

Elizabeth Warren Presses Senate to Stand Up to Trump’s Corruption

While the passage of the GENIUS Act was met with celebration, Senator Elizabeth Warren of Massachusetts delivered a pointed critique on the Senate floor, warning of “serious issues” embedded in the legislation.

She expressed frustration that the chamber failed to consider key bipartisan amendments, suggesting that the bill moved forward without adequate scrutiny.

Warren echoed concerns raised by fellow Democrats over former President Trump’s ties to World Liberty Financial—a crypto platform reportedly backed by his family.

She pointed to troubling allegations that holders of Trump’s meme coin could receive exclusive perks such as private dinners or privileged access to the former president.

More gravely, Warren argued that Trump’s crypto venture opens the door to unprecedented influence-peddling, potentially allowing him to exchange presidential favours—such as tariff relief, pardons, or government appointments—in return for massive sums from foreign governments, wealthy elites, and corporate interests.

According to Warren, by enacting the GENIUS Act without stronger safeguards, the Senate is not only ignoring these risks but enabling the spread of political corruption.

She further criticised the bill’s lack of robust consumer protections, financial oversight, and security standards.

Though many Democrats supported advancing the bill by voting to invoke cloture, some are still urging Republicans to reconsider amending the legislation.

Whether the GENIUS Act ultimately garners enough support in a narrowly Republican-controlled Senate remains uncertain.