BlockBeats News, May 20th, Coinbase CEO Brian Armstrong commented on today's "GENIUS Stablecoin Act" passing the Senate's procedural motion, stating, "The bill has passed its first procedural hurdle, marking a significant victory for the future of cryptocurrency and on-chain innovation in the United States."
BlockBeats previously reported that the U.S. Senate voted to proceed to formal consideration of the "GENIUS Stablecoin Act" through a "cloture motion," with at least 15 Democratic senators changing their stance to vote in favor, including Cortez Masto, Adam Schiff, Mark Warner, and others. The bill will now enter a comprehensive consideration process, having only passed the "cloture motion" so far, with the bill itself not yet passed. The "GENIUS Act" will next undergo debate and amendment in the Senate.
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