Coinbase CEO: "Passing the <i>GENIUS Act</i> is a Huge Victory for Cryptocurrency and On-chain Innovation in the United States"

BlockBeats News, May 20th, Coinbase CEO Brian Armstrong commented on today's "GENIUS Stablecoin Act" passing the Senate's procedural motion, stating, "The bill has passed its first procedural hurdle, marking a significant victory for the future of cryptocurrency and on-chain innovation in the United States."

BlockBeats previously reported that the U.S. Senate voted to proceed to formal consideration of the "GENIUS Stablecoin Act" through a "cloture motion," with at least 15 Democratic senators changing their stance to vote in favor, including Cortez Masto, Adam Schiff, Mark Warner, and others. The bill will now enter a comprehensive consideration process, having only passed the "cloture motion" so far, with the bill itself not yet passed. The "GENIUS Act" will next undergo debate and amendment in the Senate.