The Senate Banking Committee voted 18-6 to advance the GENIUS stablecoin act to the full Senate voting with partial Democrat support

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Mar 13, 2025 - 12:00am

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With its first committee approval, the bill that would regulate U.S. stablecoin issuers at the federal level now needs passage by the overall Senate, and a similar version also awaits approval in the House of Representatives. While a number of hurdles remain, including an eventual melding of the different bills from each chamber, the committee advanced the bill with a 18-6 vote.

The Senate Banking Committee voted Thursday 18-6 to advance that bill. Democrats Sens. Mark Warner and Andy Kim were among others to support the bill "The GENIUS Act is a bipartisan step forward in ensuring stablecoins are safe and reliable tools in the financial system," said Senate Banking Committee Chair Tim Scott, R-S.C., at the beginning of Thursday's markup.

Related projects

GENIUS Act (Guiding and Establishing National Innovation in U.S. Stablecoins Act)

U.S. Senate Committee on Banking, Housing, and Urban Affairs

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Policy & regulations

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Week 11 of 2025