U.S. Stablecoin Legislation Faces Crucial Senate Review Next Month

According to Odaily, the U.S. stablecoin legislation, known as the GENIUS ACT, is set to reach a pivotal moment in the Senate next month. The White House plans to present the stablecoin bill for Senate consideration in April. U.S. President Donald Trump's digital asset task force has urged Senate leaders to bring the bill to debate. This legislation aims to establish a regulatory framework for payment stablecoins, which are cryptocurrencies pegged to the U.S. dollar. The bill successfully passed the Senate Banking Committee on March 13 with an 18-6 vote, marking a significant step forward in the ongoing efforts to create clear regulatory guidelines for stablecoins. The White House has indicated that if the Senate version of the stablecoin bill garners sufficient support, it may be signed into law in its current form.