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- 🔥 Poll: Can BTC Break Its ATH This Week?
ATH Recap: Bitcoin hit its ATH of $109,702.5 on Jan 20, 2025, followed by a consolidation phase.
Recent Trends: With easing geopolitical tensions, sustained institutional inflows, and improving market sentiment, BTC has shown strong upward momentum.
This Week’s Key Question: The market looks bullish, but the ATH remains a major resistance level.
🗳️ Share your take—let’s see where the market goes! - 🔵 #GENIUS Stablecoin Bill#
On May 20, Eleanor Terrett reported that the GENIUS Stablecoin Bill passed a procedural vote (66-32), officially entering the review phase, though it hasn't yet become law. This marks significant progress toward the first U.S. federal stablecoin regulation framework. Is this a positive compliance step or a sign of increasing regulatory pressure? Share your thoughts!
🔵 #SOL Breaks $170#
SOL has passed the $170 mark, currently trading at $170.01, up 0.9% in the past 24 hours. However, according to regulatory filings submitted Monday, the SEC has extended the review d - 🔥 Gate Post Ambassador Exclusive Posting Reward Task Is On!
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- Gate Brand Strategy Major Upgrade
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May 16, 2025, 8:00 AM – May 23, 2025, 06:00 PM UTC
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U.S. stablecoin regulation framework
Key Points:* U.S. Senate advances GENIUS Act for stablecoin regulation.
This procedural victory sets the stage for potential federal regulation, addressing consumer protection concerns and impacting the cryptocurrency market.
U.S. Senate Pushes GENIUS Act with Bipartisan Support
The U.S. Senate advanced the GENIUS Act, marking a pivotal step for federal stablecoin regulation. Led by Senator Bill Hagerty, the bill’s progression indicates a growing consensus on establishing legal oversight for digital assets. Initial opposition stemmed from consumer concerns, but efforts to amend the text garnered new support. The bill requires stablecoin issuers to adhere to federal registration, reserve, and transparency requirements.
The expected impact includes stricter compliance obligations for U.S. dollar-backed stablecoins like USDC and USDT. These changes may lead to adjustments in market practices and operations for stablecoin issuers and adoption strategies for related projects. The GENIUS Act has strengthened its position by addressing national security concerns, pivotal in swaying additional support from crypto-friendly Democrats.
Market reactions included cautious optimism among stablecoin issuers and industry players. Key figures, such as Senator Elizabeth Warren, expressed concerns about potential risks, emphasizing consumer protection and financial crime prevention. Warren warned that the act could facilitate misconduct by crypto companies, though it ultimately received bipartisan support. Senator Hagerty, in contrast, labeled the bill a “historic opportunity.”
GENIUS Act’s Financial Impact and Industry Reactions
Did you know? In 2022, the Lummis-Gillibrand Act sunk without reaching a Senate floor vote, showing historical volatility in stablecoin legislative efforts.
USDC remains stable at $1.00, with a market cap of $60.63 billion and a 24-hour trading volume of $13.09 billion. The 24-hour, 7-day, and 90-day price changes were nearly nil. USDC’s circulatory supply was 60.65 billion as of May 20, 2025, according to CoinMarketCap.