The encryption lobbying group urges the U.S. Senate to pass the stablecoin bill (GENIUS Act) as soon as possible.

According to a report from Cointelegraph on June 3, Deep Tide TechFlow news states that the U.S. Senate is about to debate the stablecoin regulatory bill "Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act." The crypto lobbying group is urging senators to pass the bill as soon as possible, as proposed amendments regarding credit card fees could lead to latency in the bill.

The bill was passed through procedural voting in May and is expected to gain enough votes in the Senate and be submitted to the House within this week. Crypto groups such as Blockchain Association, Crypto Council for Innovation, Digital Chamber, and DeFi Education Fund issued a joint statement emphasizing that the core goal of the bill is to provide a comprehensive solution for stablecoin regulation and urged lawmakers to maintain the momentum of positive advancement.