The GENIUS stablecoin bill has entered the final stage of consideration in the Senate, and Lummis admits that the legislative process is difficult

Senator Cynthia Lummis, Republican of Wyoming, revealed at the Bitcoin 2025 conference that the GENIUS stablecoin bill has entered the final stage of consideration in the Senate. The bill passed a procedural vote of more than 60 votes last week, but suffered setbacks due to opposition from Democratic leader Elizabeth Warren and some Republicans. If passed, it would be the first bill successfully legislated by the Senate Banking Committee in eight years.
Lummis conducted extensive behind-the-scenes negotiations with the team of co-sponsor Kirsten Gillibrand (Democrat). Tennessee Senator Bill Hagerty pointed out that this would be the most bipartisan bill in the committee in more than a decade, but criticized Warren for deliberately delaying the legislative process. Lummis admitted that the Senate has lost its "legislative muscle memory" and hopes to learn from the House's experience in passing FIT21 last year to advance subsequent crypto market regulation legislation.