Overview

• The Senate plans a floor vote this week on the bipartisan GENIUS Act to establish federal oversight of dollar-backed stablecoins.
• About a dozen Democrats have joined Republicans to clear cloture and advance the bill to its final debate stage.
• Progressive senators are drafting amendments to prevent President Trump from profiting from digital assets tied to his family’s stablecoin venture.
• Major crypto industry groups have urged lawmakers to reject unrelated amendments and focus on the bill’s core regulatory framework.
• The White House maintains that Trump’s crypto interests are held in an independent trust and pose no conflict of interest, framing the vote as a test of cross-party cooperation.