TBL Thinks: Senate Advances GENIUS Act
Dear Readers,
It’s Thinking Time! Buckle up for a quick recap of global events. This week we cover the stablecoin bill, also known as the GENIUS Act, and the rare show of bipartisan support for the advancement of the bill.
TBL Thinks is our way to summarize the most important paywalled, longer reads relevant to global macroeconomics, helping you cut through the noise. With that in mind, please enjoy.
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Key Stablecoin Bill Set to Advance
The US Senate voted on Monday to advance the stablecoin bill known as the Genius Act, marking a major victory for the crypto industry. The 66-32 vote to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is being touted as historic, with Senators and crypto industry leaders saying it has the potential to ensure US dollar dominance.