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🏛️ US SENATE WILL PASS STABLECOIN BILL — DIGITAL CHAMBER CHIEF
The GENIUS Act’s failure to move to a full vote is “a bump in the road,” and it will pass “in the next few weeks,” says Cody Carbone, CEO of the Washington, DC-based advocacy group Digital Chamber.
The stalling of key stablecoin legislation in the United States Senate was only a minor setback, and the bill is expected to pass soon, according to Cody Carbone, CEO of the Digital Chamber, a blockchain trade association and advocacy group based in Washington, DC.
Speaking to Cointelegraph at Consensus 2025, Carbone said it is in the best interest of the U.S. to enact comprehensive stablecoin regulations in order to protect U.S. dollar hegemony in global markets — a move that enjoys bipartisan appeal and support. Carbone stated:
“These things never move as quickly as we want them to move, but it’s stablecoin legislation. This Congress has already moved more expeditiously than we ever could have imagined. So, yes, it’s a bump in the road, but I think very, very shortly, we will have another vote.”
The Guiding and Establishing National Innovation in U.S. Stablecoins of 2025, or GENIUS Act, is seen as critical legislation for the U.S. crypto space. Many warn that failing to pass meaningful regulatory reform before the 2026 midterm elections could trigger a reversal in the current positive sentiment and cause a downturn in crypto markets.
“Negotiations have continued, and so I am still very optimistic,” Carbone added. “This bill is going to pass the Senate in the next few weeks.”
⚖️ Partisan Politics and Trump’s Involvement Blamed for Setback
The act failed a procedural vote in the Senate on May 8 after several Democratic lawmakers withdrew support, citing ethical concerns over President Donald Trump’s involvement in crypto. His ties to crypto — including memecoins, DeFi, and NFTs — were labeled as a key reason for the sudden reversal of Democratic support.
Coinbase Chief Legal Officer Paul Grewal also weighed in, saying Trump’s crypto presence complicates the regulatory process, as lawmakers remain cautious of conflicts of interest or undue influence.
In response, Republican Senator Tim Scott criticized Democratic opposition as a politically motivated move, aimed at blocking the former president from advancing digital asset initiatives under his administration.
Despite the controversy, the latest version of the bill removes any references to the Trump family, a change that could pave the way for Senate approval by the end of May, according to several industry insiders.
@ Newshounds News™
🔗 Source: Cointelegraph
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STABLECOINS GO MAINSTREAM: 9 IN 10 FINANCIAL INSTITUTIONS NOW IMPLEMENTING, EXECS SAY
Stablecoins have moved from experimental assets to key infrastructure in global finance, according to Fireblocks’ newly released 2025 State of Stablecoins report.
Fireblocks’ Survey: 90% of Firms Have Stablecoin Initiatives Underway
Based on a survey of 295 financial executives, the report reveals that 90% of firms are now actively implementing stablecoins, with nearly half of all 2024 transactions on Fireblocks’ platform involving stablecoin use.
Banks and payment providers are now processing over 35 million stablecoin transactions per month, a clear sign of their growing adoption.
The dominant use case? Cross-border B2B payments, especially in emerging markets where traditional rails fail due to delays and high costs.
Speed and Liquidity Are Driving Adoption
Speed has overtaken cost savings as the top benefit, with 48% citing faster settlement as the primary motivator. But more than just efficiency, revenue growth is the goal: institutions want to regain lost market share and open new financial corridors.
Meanwhile, regulatory concerns have dropped dramatically — just 20% of firms now view compliance as a barrier, down from 80% in 2023. This shift is driven by clearer global regulations and better AML tools.
Regional Trends Show Varied Priorities
- Latin America: Leading with 71% of firms using stablecoins for cross-border transactions.
- Asia: Focused on market expansion.
- North America: Lags behind with 39% adoption, but 88% of firms support upcoming regulations.
- Europe: Emphasizing security, with 37% seeking safer infrastructure despite its regulatory head start under MiCA.
Infrastructure Is Ready, But Security Still a Concern
While 86% report being technically ready, Fireblocks stresses the need for enterprise-grade scalability.
Security remains a sticking point — 36% demand stronger protections to support future growth.
Case in point: Fireblocks highlighted its partnership with Zeebu, which used stablecoins to process $5.7 billion in telecom settlements — demonstrating both scalability and real-world impact.
Conclusion: Stablecoins Are No Longer Optional
The message is clear: Stablecoins have become a strategic imperative.
From instant settlements to programmable finance, the pressure to adapt is rising. Institutions building secure and compliant infrastructure today will lead the digital finance landscape of tomorrow.
@ Newshounds News™
📎 Source: Bitcoin News
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