Senate and House versions of the stablecoin bill differ in regulatory oversight between state and federal jurisdictions and in the treatment of foreign issuers such as Tether

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When the stablecoin bill is forwarded to the House, that leaves key decision in the hands of leaders there, whether to pair the GENIUS Act with the market structure effort, or to pursue it either as a straight-up vote on the Senate's version or a more complex process of melding the Senate's language with legislation already in the works in the House. Whatever happens, the House will need to match the Senate's approval at some point before a stablecoin bill can move to the president's desk to be signed into law

When the GENIUS Act moves to the House of Representatives, lawmakers there will need to decide how to handle it. They could vote on the Senate version directly, combine it with their own market structure bill, or make changes before moving forward.

Both the Senate and House will have to come to a consensus on their bills. Both have differences in how issuers are regulated at the state and federal levels. They also differ in how foreign issuers like Tether will be regulated