Good Morning,
GENIUS Stablecoin Bill Passes Key Vote, Advances in US Senate
Weeks after a stablecoin bill stalled over Trump-linked concerns, the Senate has advanced the GENIUS Act — a major step in shaping digital asset regulation in the United States.
In a 68-30 vote, the U.S. Senate voted to advance the Guiding and Establishing National Innovation for U.S. Stablecoins, or GENIUS Act, more than a month after its introduction.
Speaking from the Senate floor on Wednesday, Majority Leader John Thune urged lawmakers to back the bill, echoing many of former President Donald Trump’s talking points on digital assets — including claims that the legislation would help position the U.S. as the “crypto capital of the world.”
“We want to bring cryptocurrency into the mainstream, and the GENIUS Act will help us do that,” said Thune.
A majority of senators — including several Democrats — voted to invoke cloture, setting up the bill for debate and a full floor vote, before potentially sending it to the House of Representatives for further consideration.
Thune acknowledged that there is still “more work to be done” in Congress regarding digital assets, referencing a separate market structure bill in the House: the CLARITY Act, which was recently advanced by two committees and may face a floor vote soon.
Pushback From Democrats
Massachusetts Senator Elizabeth Warren voiced sharp criticism, calling the bill “riddled with loopholes” and warning it lacked adequate safeguards for consumers, national security, and financial stability.
“Through his crypto business, Trump has created an efficient means to trade presidential favors like tariff exemptions, pardons, and government appointments for hundreds of millions, perhaps billions of dollars,” Warren said.
“By passing the GENIUS Act, the Senate is not only about to bless this corruption, but to actively facilitate its expansion.”
Warren also condemned the Senate for not addressing bipartisan amendments and cited ongoing concerns about Trump’s family-linked crypto platform, World Liberty Financial, which rewards memecoin holders with perks such as dinner and access to the president.
Path to Becoming Law
Though many Democrats supported the cloture motion, some are still pressing Republicans for further amendments. It remains uncertain whether the bill will clear the Senate, where Republicans hold only a slim majority.
Following the initial cloture failure in May, David Sacks, Trump’s so-called “AI and crypto czar,” stated that the White House expected bipartisan Senate approval. Meanwhile, the House companion bill — the STABLE Act — was still under consideration by the Financial Services Committee as of May.
@ Newshounds News™
Source: Cointelegraph
~~~~~~~~~
BRICS: The Global Bombshell That Shifts Power Away From the West
The BRICS power shift has catalyzed a critical turning point, as the expanded alliance now includes Saudi Arabia, Iran, UAE, Egypt, and Ethiopia as full members. The bloc has revolutionized global energy control, now commanding over 40% of global oil production, and has surpassed the G7 in purchasing power parity GDP.
Major economic indicators from 2025 reveal that BRICS countries settled over $400 billion in trade without US dollars last year alone, accelerating the move away from traditional currency systems. This shift has helped pioneer an alternative global economic system that strategically bypasses Western financial infrastructure.
How BRICS Power, Oil, and Currency Are Reshaping the Global Map
Energy Dominance Shifts Global Control
BRICS now oversees more than 40% of global oil production, thanks to the inclusion of Saudi Arabia and Iran, whose massive reserves have been pulled under the bloc’s umbrella. Russia contributes significantly to natural gas supply, bolstering BRICS’ energy dominance. This alliance was no accident—it was strategically architected through several development phases.
In 2024, Russia began settling LNG trades with India in rupees, and Iran optimized an expansive barter system with China. Meanwhile, Qatar has expressed interest in a “BRICS energy coordination mechanism” that could further transform the global energy landscape.
“Trump’s erratic trade policy decisions and the dollar’s sharp depreciation are probably encouraging a more rapid shift towards other currencies.” — Francesco Pesole, ING
Currency Revolution Accelerates Global Changes
The de-dollarization trend has led BRICS to construct a sweeping network of alternative financial pathways. China and Brazil are now settling bilateral trade in yuan, while India and Russia use a rupee-ruble payment mechanism. Saudi Arabia’s decision to accept yuan for oil sales to China marks one of the most historic developments in global finance.
BRICS has also spearheaded the creation of alternative payment systems that bypass SWIFT. As a result, the U.S. dollar’s share in global reserves dropped to 57.8% in 2024—a substantial decline with far-reaching consequences.
“Countries are looking at the fact that the dollar has been, and can be used as a sort of weapon on trade, direct sanctions, etc… That’s been the real change, I think, in the last several months.” — Mitul Kotecha, Barclays
Economic Realignment Outpaces Western Response
The shift in global economic power between BRICS and the G7 has accelerated faster than most analysts predicted. Bank of America research shows that institutional capital is actively moving away from dollar dependency, and more than 40 countries have submitted membership applications to BRICS.
This expansion is not just economic—it is about sovereignty. BRICS members can now trade freely across major jurisdictions without external approvals. Countries like Nigeria, Thailand, Pakistan, and Venezuela are actively seeking to join the bloc, creating a global network spanning four continents.
“De-dollarization in ASEAN is likely to pick up pace, primarily via conversion of FX deposits accumulated since 2022.”
— Abhay Gupta, Bank of America
“There’s notable FX hedging activity; Japanese life insurers raised their hedge ratio from 44% to 48% in recent months.”
— Craig Chan, Nomura Securities
What began as a five-nation group has evolved into an economic superpower that dominates essential energy supplies and facilitates hundreds of billions in non-dollar trade. Though the U.S. dollar still holds a dominant share of global reserves, its role as the default trade currency is quickly eroding.
The BRICS power shift represents a systematic circumvention of Western financial dominance—not through confrontation, but through construction of an entirely new infrastructure.
@ Newshounds News™
Source: Watcher.Guru
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
Newshound’s News Telegram Room Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
