The US Senate will vote on a stablecoin bill on Thursday

The US Senate is scheduled to take a crucial vote on Thursday on the GENIUS stablecoin bill, which requires stablecoins to be fully backed by current assets such as the US dollar and Treasury bills. With 60 votes required to pass, Republicans need to win Democratic support. At present, several Democratic senators have expressed opposition due to foreign investment regulations and insufficient anti-money laundering provisions, and the Republican Party is also divided. At the same time, Democrats are investigating Trump's links to the cryptocurrency industry.