US Senator: stablecoin bill has removed references to Trump family, Senate plans to pass by May 26th

According to Cointelegraph, the US Senate may pass a bipartisan stablecoin bill, the GENIUS Act, as early as next week after removing statements related to President Trump and his family's cryptocurrency interests. Republican Senator Cynthia Lummis believes that passing it before May 26th is a "reasonable goal". Democratic Senator Kirsten Gillibrand stated that the wording of the bill has been revised, removing provisions targeting Trump's cryptocurrency projects such as Meme. She emphasized that the revised bill has improvements in consumer protection and other aspects, and is not focused on Trump's ethical issues, but aims to regulate the stablecoin industry. Previously, Senate Democrats withdrew their support on May 8th due to concerns that the bill would not address Trump's profitable cryptocurrency trading. Coinbase CEO Brian Armstrong hopes the Senate will vote early next week, but refuses to comment on the impact of Trump's Meme coin on the bill. The cryptocurrency industry is pushing Congress to pass this bill and another market structure bill before the midterm elections on November 3, 2026. Industry insiders say that the time window for passing legislation before the midterm elections is narrow, and Trump is expected to sign these two bills before the August recess.