The US Senate to Vote on Stablecoin Bill on Thursday

The U.S. Senate is scheduled to hold a crucial vote on the GENIUS Stablecoin Act on Thursday. The bill requires stablecoins to be fully backed by liquid assets such as the U.S. dollar and short-term government bonds. As 60 votes are needed for passage, Republicans must seek support from Democrats. Currently, several Democratic senators have expressed opposition due to insufficient foreign investment regulation and anti-money laundering provisions, and there are also divisions within the Republican Party. Meanwhile, Democrats are investigating Trump's connections with the cryptocurrency industry.