Senate Republicans have faced a grueling process to get the GENIUS Act, their landmark cryptocurrency bill, to a final vote. But Republican lawmakers still think that if they can pass it next week, it will not only be a boon for their party, but pave the way for more legislation.
“We’ve been pretty clear about it, we want America to be the reserve currency of the world in every way,” Sen. Tim Sheehy told NOTUS. “We’re trying to be the most aggressive party in making a crypto framework in America that’s predictable and stable.”
The GENIUS Act is aimed at codifying payments made with stablecoins — a form of cryptocurrency tied to physical assets like the dollar — and at breaking out who has regulation authority over which parts. The bill is expected to arrive on the Senate floor next week for a final vote and could be the first bill regulating digital assets to ever pass the Senate.