It’s been a remarkable 24 hours for the prospects of stablecoin legislation in the Senate. But we aren’t at the finish line.
A bipartisan group of key senators reached a tentative agreement on the GENIUS Act today, according to three sources familiar with the process.
The question is what happens next and when. We’ve heard from several Senate offices that are still awaiting text to review. Some Senate Republicans were eyeing a vote as early as tomorrow – something Coinbase CEO Brian Armstrong called for publicly this afternoon – but Senate Majority Leader John Thune told reporters this afternoon that action was more likely next week.
