A bill regulating stablecoins is set to be submitted to the U.S. Senate for debate, while cryptocurrency lobbying groups have urged lawmakers to focus on pushing the bill through, as some senators have proposed possible amendments.
The "Guidance and Establishment of a National Innovation for U.S. Stablecoins" (GENIUS) bill could be passed in the Senate as early as this week. Following a procedural vote in the Senate on May 19, the bill appears to have garnered enough votes to be submitted to the House for consideration.
Currently, crypto organizations such as the Blockchain Association, the Crypto Innovation Council, the Digital Chamber of Commerce, and the DeFi Education Fund have stated that they are ready to assist lawmakers in maintaining "positive momentum" to ensure the bill is smoothly submitted to the House.
"As the bill continues to undergo the amendment process, we respectfully urge lawmakers to stay true to its core objective: to provide a targeted and comprehensive approach to stablecoin regulation," these groups said in a joint statement on June 2.
Many Democrats, who had once withdrawn their support, have now returned to backing the bill. They initially withdrew their support due to concerns about Donald Trump's association with cryptocurrency, including the stablecoin launched by his family's crypto platform.
However, this stablecoin legislation may now face obstacles from unrelated credit card fee amendments.
According to a report by Politico on June 2, Senators Dick Durbin and Roger Marshall want to attach their "swipe fee" legislation, the Credit Card Competition Act (CCCA), to the stablecoin bill.
This amendment would require payment networks like Visa, Mastercard, and American Express to compete on transaction processing fees charged to merchants.
This controversial measure has faced strong opposition from banks and card networks, which argue that it represents government overreach into the market.
Meanwhile, crypto advocates are eager to prevent their long-sought victory from being undermined by unrelated credit card amendments, which have created a complicated political situation.
James Czerniawski from the libertarian group Americans for Prosperity stated last month that these changes are "unacceptable," pointing out that the proposed amendments are "bad policy" that would weaken Americans' access to credit.
According to cryptocurrency journalist Eleanor Terrett on June 2, other proposed amendments include new disclosure requirements for government officials holding stablecoins, protective measures against Trump's family's association with cryptocurrency, a ban on Chinese and foreign entities owning stablecoin issuers, and reforms to the Bank Secrecy Act and anti-money laundering rules.
"If an agreement is not reached, procedural hurdles could slow the process and potentially delay the final passage until the week of June 9," she said.
Related: Michael Saylor signals increased holdings: Strategy company set to buy Bitcoin (BTC)
Original article: “Crypto Lobby Pushes Senate to Pass Stablecoin Bill Without Debate”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
