Crypto lobby pushes Senate to pass stablecoin bill without debate

The GENIUS Act could soon be up for Senate debate and crypto lobbyists urged senators to quickly pass the bill as amendments on credit card fees threaten to delay the bill.

A stablecoin-regulating bill will soon be on the US Senate floor for debate, and crypto lobbying groups have called on lawmakers to focus on passing the bill, as some senators have flagged possible amendments.

The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act could pass the Senate as soon as this week. It seemingly has enough votes to pass to the House after the Senate moved the bill forward in a procedural vote on May 19.

Now, crypto groups the Blockchain Association, the Crypto Council for Innovation, the Digital Chamber and the DeFi Education Fund have said they’re ready to help lawmakers maintain “positive momentum” to get the bill before the House.