Overview

• The Senate voted 66-32 to end debate on the GENIUS Act, clearing the way for a final vote potentially next week.
• Senate Majority Leader John Thune invoked cloture and filled the amendment tree to block the Credit Card Competition Act and other floor changes.
• The restricted amendment process follows two weeks of negotiations between Republicans and crypto-friendly Democrats that shaped the current bipartisan text.
• Critics including Elizabeth Warren and Lisa Blunt Rochester warn that barring amendments could weaken consumer protections and financial stability measures.
• Supporters contend the bill strikes a balance between state and federal oversight and provides clear guidance for stablecoin issuers in the expanding crypto market.