The U.S. Senate plans to vote on the stablecoin bill before May 26.

[The U.S. Senate plans to vote on the stablecoin bill by May 26] According to Politico, Senate Majority Leader John Thune stated in a closed-door meeting that the Senate will address the “GENIUS Act” proposed by Senator Bill Hagerty by May 26. This bill was passed by the Senate Banking Committee in March and aims to restrict the issuance of payment stablecoins to entities other than “licensed payment stablecoin issuers.” The House of Representatives has also proposed a complementary bill, the “STABLE Act.” Democratic lawmakers criticized Trump for his close ties to related stablecoin companies, fearing it could lead to “unprecedented conflicts of interest.”