The Senate has passed the GENIUS Act, a regulatory framework for stablecoins, with a vote of 68-30. The Club for Growth had previously issued a Key Vote Alert urging Senators to support this legislation.
David McIntosh, President of the Club for Growth, commented on the passage of the act: “Club for Growth is encouraged by the continued progress in Congress toward establishing a stable, light-touch regulatory framework for stablecoins. We applaud Senate leaders for passing the GENIUS Act and their efforts to support innovation while limiting regulatory overreach in decentralized blockchain technology.”
McIntosh further emphasized the importance of moving forward with this legislation: “Now that the bill has cleared the Senate, the House must send the GENIUS Act to President Trump’s desk to solidify the United States as the global leader for digital assets and blockchain technology.”
The passage of this act marks a significant step in shaping regulations around digital currencies in an effort to foster innovation within this sector.
