U.S. Senate Eyes Memorial Day Vote on GENIUS Act Stablecoin Bill Amid Political Tensions

The U.S. Senate may vote on the revised GENIUS Act, a landmark stablecoin regulation bill, by Memorial Day, according to Senators Cynthia Lummis and Kirsten Gillibrand. The GENIUS Act, now stripped of language targeting Donald Trump’s crypto activity, is back in focus after bipartisan negotiations resumed. Speaking during a Stand With Crypto event, both senators emphasized the urgency of passing stablecoin regulation, particularly to address consumer protection and market stability. The bill’s timing and direction signal growing momentum toward U.S. stablecoin policy reform, despite prior gridlock over the former president’s memecoin exposure.

Revised GENIUS Act Aims to Regulate Stablecoins, Not Target Trump

Senator Lummis called a Memorial Day vote a “fair target,” suggesting renewed alignment among lawmakers on the GENIUS Act’s core purpose. Senator Gillibrand confirmed that language referencing Donald Trump’s crypto dealings was removed to maintain focus on financial regulation, not political ethics.

Earlier resistance emerged when Democrats raised concerns over the Trump family’s undisclosed crypto investments. However, with that provision now removed, key stakeholders, including Coinbase CEO Brian Armstrong, support the streamlined bill. Gillibrand noted that Trump’s crypto actions are already “likely illegal,” and thus outside the GENIUS Act’s scope. She emphasized that the bill focuses on transparency, consumer protections, and bankruptcy provisions.

Political Compromises Unlock Stablecoin Progress

The revised GENIUS Act may finally break the legislative impasse surrounding digital assets. Lawmakers paused their progress last week amid partisan disputes, especially concerns about Trump’s financial entanglements. According to Semafor, final bill language has now been agreed upon, refocusing on stablecoin governance, including disclosures, reserve backing, and issuance rules.

The revised stablecoin bill by Memorial Day has become a rallying point for regulatory urgency. Bipartisan leaders hope that by removing politically charged provisions, they can advance a bill that defines stablecoin standards, promotes innovation, and protects retail users in crypto markets. The current draft, according to multiple sources, improves legal clarity and may set the foundation for broader digital asset regulation in the U.S.

Market Leaders Support Bipartisan Crypto Regulation Push

Coinbase CEO Brian Armstrong voiced strong support for the revised GENIUS Act during the Senate event, citing the bill’s practical consumer benefits. Armstrong emphasized that a clear legal framework could boost investor confidence and attract institutional capital. Crypto industry participants agree that the revised stablecoin bill by Memorial Day is a realistic milestone and a necessary step to strengthen U.S. competitiveness. Removing Trump-specific clauses helped depoliticize the discussion, allowing stakeholders to refocus on legal clarity and innovation. With digital assets surging in popularity, market participants are eager to see regulatory certainty replace current ambiguities.

What’s Next: Senate Pushes Toward Landmark Stablecoin Vote

As Memorial Day nears, Senate staffers are accelerating efforts to finalize the revised GENIUS Act for a floor vote. If passed, the revised stablecoin bill by Memorial Day could mark a pivotal moment for U.S. crypto regulation. Attention will now shift to House leaders and whether bipartisan alignment can continue. With political tensions easing and institutional backing growing, observers expect more digital asset policy initiatives to emerge. Should this bill succeed, it could pave the way for a wider framework encompassing other aspects of the crypto economy, including decentralized finance and digital identity.