Main meals
- The Senate submitted a genius law after securing 60 votes required to move forward.
- The two parties supported the STABLECOIN draft law that was previously resolved due to concerns about conflicting interests with President Trump.
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The Senate’s efforts to advance the organization of Stablecoin have gained momentum today, as the legislators agreed to a major procedural vote on the law of genius, wiping the way for official discussion.
The movement of strokes on the law of the genius, also known as the directive and creation of the national innovation of the American Stablecoins Law, which was passed by a vote of 66-32, exceeded the threshold 60 of the protein required to overcome filbuster.
With the sum of Cloture, the draft law is now submitting to the Senate Hall for full consideration and possible amendments.
The Genius Act, presented by Senator Bell Hajari, began as a two -party effort with the participating sponsors including Senator Tim Scott, Cenathia Lomis, Kirsten Gilbrand, and Angela Alecoprox. However, in its last repetition, Democratic sponsors have been removed, and the purchase now has only Republican support.
The legislation, which aims to create a regulatory framework for Stablecoins, had previously won the support of the two parties in the Senate Banking Committee in March.
However, the draft law has lost the momentum where Democrats withdrew their support due to their concerns about the conflict of potential interests related to President Donald Trump and the Stablecoin Source, which is suffering from Trump’s global Trump (WLF).
This is a developing story.
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