U.S. lawmakers will hold a final vote on the stablecoin GENIUS Act on May 19

ChainCatcher news, according to Cointelegraph, U.S. Senate Majority Leader John Thune has submitted a motion to end debate on the "GENIUS Act," which is set to be decided on May 19. The bill requires that stablecoin issuers with assets over $10 billion be regulated by the Federal Reserve, while smaller institutions will be regulated by the states; all stablecoins must be fully backed by assets such as U.S. dollars or government bonds.

The latest amendment proposes to add three provisions: limiting the involvement of tech giants in finance, stronger consumer protection, and enhanced oversight of government officials. If the bill passes, it will become the first regulatory framework for stablecoins in the United States, directly impacting the direction of digital asset regulation.