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U.S. Senator Cynthia Lummis stated that the United States is making strides toward leading the future of digital assets.
PANews May 20 news, U.S. Senator Cynthia Lummis stated on social media that digital assets represent the future, and the U.S. is now one step closer to leading in this field. This statement follows the procedural vote in the Senate passing the stablecoin bill "GENIUS Act." The bill aims to establish a regulatory framework for stablecoins and their issuers. Previously, the Democrats collectively obstructed the bill's progress due to concerns over President Trump's involvement in encryption and consumer protection provisions. Although Senator Warren remains firmly opposed, several Democrats have changed their stance to push the bill forward. The bill still requires coordination between the House and Senate and must ultimately be signed into law by the President.