May 19, 2025
WASHINGTON, DC – Today, Senator Alsobrooks’ bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS) Act cleared a key procedural hurdle in the United States Senate.
Senator Angela Alsobrooks (D-Md.) is an original cosponsor of the GENIUS Act alongside Senators Gillibrand (D-N.Y.), Hagerty (R-Tenn.), and Lummis (R-Wyo.).
After the Senate agreed to proceed to the bill by a bipartisan vote of 66-32, Alsobrooks released the following statement:
“Today, the GENIUS Act passed a hurdle in the Senate, placing us one step closer to providing a commonsense regulatory framework for stablecoins. I fought hard to ensure that this bill provided protections for consumers, and I’m glad my efforts were reflected in the bill today. Today’s vote is an acknowledgment of our progress.
“My priorities throughout this process have been spurring innovation, ensuring that innovation stays in America, and making sure that this multi-billion dollar emerging market remains fair, competitive, and accessible for each and every American.
“While this bill does not include everything I would have liked, it’s an important first step in protecting consumers and innovation. A regulatory framework is long overdue. I will continue to work with my colleagues on both sides of the aisle.”
###