GENIUS Stablecoin Act Nears Final Vote as U.S. Senate Faces Pivotal Decision Today

The U.S. Senate will cast its vote on the GENIUS Stablecoin Act, which may eventually determine how crypto is regulated in the U.S in the long run. In case of its adoption, the bill will shift to the House of Representatives to be finally considered. This point serves as the new dawn of the regulation of stablecoins since legislators grapple with whether this country can still have a competitive advantage in the digital finance industry.

GENIUS Stablecoin Act Vote Set for Senate Decision

After weeks of debate and recent approval for cloture, the GENIUS Stablecoin Act is ready for a final Senate vote. The cloture vote last week cleared the way for final discussions and today’s decisive action. According to FOX Business journalist Eleanor Terrett, the Senate vote is set for Tuesday, June 17, 2025.

🚨NEW: Final passage vote on the GENIUS Act will take place tomorrow at 4:30PM.

Yes, this is the last vote the bill will see in the Senate before moving on to the House.

— Eleanor Terrett (@EleanorTerrett) June 16, 2025

Senator Bill Hagerty urged swift passage of the bill. He warned that without regulation, the U.S. could lose its lead in the global stablecoin race. “If we fail to act now, not only will these benefits slip away—we will also fall behind in global competitiveness,” Hagerty stated.

The GENIUS Act aims to build a national framework for stablecoin issuance and oversight. It would also enable licensed companies to issue an electronic form of the U.S. dollar in the form of digital tokens with transparent regulation.

Supporters Push for Clarity in Stablecoin Regulation

According to the supporters of the bill, the GENIUS Act will bring the necessary clarity to the stablecoin issuers. It specifies licensing conditions, capital requirements, as well as operational rules. These provisions aim to reduce risk and encourage innovation within a legal framework.

Ron Hammond, Head of Government Relations at Wintermute, said momentum is growing in favor of the bill. “Overall, it does seem like it’s tracking to be at least for GENIUS passed out of the Senate by Tuesday,” Hammond noted. He added that more Democrats are showing support for stablecoin regulation.

Industry participants believe the bill could improve the U.S. stablecoin market’s structure. They see it as a first step in building legal protections for users and developers in the space.

Opposition Voices Raise Concerns Over Privacy and Market Power

Although gaining momentum, the GENIUS Stablecoin Act is criticized by several legislators. Concerns about privacy and possible exploitation by the big tech corporations were voiced by Senator Elizabeth Warren. Unless the Congress fixes the GENIUS Act, billionaires like Elon Musk and Jeff Bezos might auction stablecoins which will profile your transactions, data mine and exit the competition, she exclaimed.

If Congress doesn’t fix the GENIUS Act, billionaires like Elon Musk and Jeff Bezos could launch stablecoins that track your purchases, exploit your data, and squeeze out competitors.

These billionaires will come begging for a taxpayer bailout when it inevitably blows up. pic.twitter.com/viKxVhdcsd

— Elizabeth Warren (@SenWarren) June 16, 2025

Missouri Senator Josh Hawley was also strongly opposed. He described the bill as a handout to Big Tech and the ability to enable large corporations to mint stablecoins with loose oversight. In his address, Hawley asked legislators to reconsider the design of the bill to avoid centralization of the market.

Critics cite that the bill does not have powerful tools of enforcement. They desire to have more restrictions so that the big platforms will not monopolize the sector of stablecoin.

Industry Leaders See Bill as a Step Forward

Bezalel Eithan Raviv, Lionsgate CEO, admitted that the bill had limitations but accepted the advancements. He said the GENIUS Act offers more direction than the current regulatory uncertainty. “It’s a step in the right direction for everyone,” Raviv stated*. “Let’s give it a try, and it will ripple in many ways.”*

Raviv emphasized that while the bill is not perfect, it introduces accountability. It also promotes collaboration between regulators the private companies. The problem with crypto is that many think the national stablecoin policy is an improvement compared to the void.

Today is the day when the Senate may take its final vote in the effort to be a step closer to the regulated environment of the U.S. digital dollar. Its result is expected to affect further crypto regulation and international digital asset compliance trends.