US lawmakers will hold a final vote on the stablecoin GENIUS bill on May 19th

According to Coingape, US Senate Majority Leader John Thune has officially submitted a motion to close the debate on the GENIUS Act, scheduled for a vote on May 19th. This stablecoin regulation bill requires issuers with assets exceeding $10 billion to be regulated by the Federal Reserve, and small institutions to be regulated by states; All stable currencies must be fully supported by assets such as US dollars or treasury bond. The latest bipartisan amendment proposes to add three provisions: 1) stricter rules for technology companies to enter financial assets; 2) Strengthening consumer protection mechanisms; 3) Strengthen supervision of government officials (including Musk and others). The House of Representatives has previously passed a similar STABLE bill, requiring stablecoin issuers such as USDT to operate with complete transparency. If the bill is passed, it will become the first federal legislative framework for stablecoins in the United States. Senate sources revealed that the amendments include a clear ban on the abuse of FDIC insurance and strengthened bankruptcy protection provisions to garner bipartisan support. The result of this vote will directly affect the regulatory direction of the United States in the field of digital assets.