The U.S. Senate passed a procedural motion on the amendment to the "GENIUS Stablecoin Act" with a vote of 68 to 30.

The U.S. Senate passed the procedural motion (cloture) on the amendment to the GENIUS Stablecoin Act with a vote of 68 to 30, paving the way for a final vote that could take place as early as next Monday, unless the two parties reach an agreement to shorten the debate time. Previously, the Senate attempted to advance the bill in May but failed to pass it, and about a week later, it passed the procedural motion again with a vote of 66 to 32. The bill requires stablecoins to be fully backed by U.S. dollars or equivalent high-liquid assets, and mandates annual audits for issuers with a Market Cap exceeding 50 billion dollars. (The Block)