In 68-30 votes on Tuesday evening, the Senate approved an overwhelming majority of the Genius law with the support of the two parties. Eighteen democrats joined the majority of Republicans in passing the draft law, the first to create a federal regulatory framework for Stablecoins, and the encryption symbols associated with the value of the US dollar.
His passage was not always guaranteed. Once again in May, nine democrats who were previously supporting the law of genius suddenly A reverse pathRequesting a review of the text of the draft law, and after days, the success of Senator Elizabeth Warren (D-MA) and Ron Widen (D-WA) successfully An attempt to kill an attempt To bring the bill to the floor vote by referring to Many of the current events The involvement of the Trump family encryption projects, including a Deninu For people who hold large sums from Memecoin $ Trump.
Warren, a member of the Senate Banking Committee and the Consumer Protection Photo for a long time, eventually voted against the final version of the genius law. During the June 11 speech, I stated that the draft law did not have the adequate organizational handrails to prevent corruption: “Trump will make his private financial company organizer, and most importantly, his competitors’ organizer.”
However, it is a victory for the prosperous digital assets industry, which poured hundreds of millions in the game of political influence in Washington, and the employment of political advisers and even a few members of Congress on their behalf. In an interview before Tuesday’s vote, Seth Hertine, head of global policy at Crypto Wallet Company, described the genius law as a political bell of the industry as a whole. “If the genius verb hinders a path, everything behind it is hindering,” he said, he said freedom.
