17.06.2025 22:26

Senator Bill Hagerty has confidently predicted the imminent passage of the GENIUS Act, a landmark stablecoin bill, in the U.S. Senate. His prediction, shared during a FOX Business interview and on X, points to a final vote scheduled for 4:30 p.m. ET today. This vote marks the culmination of a journey that began earlier this year, navigating the complexities of Senate procedure, including a successful cloture vote last week, despite facing resistance from some prominent critics.

Hagerty, the bill's original sponsor, expressed his optimism, highlighting the collaborative nature of the legislation's development. The GENIUS Act, he emphasized, represents a strong bipartisan effort, drawing contributions from fellow senators, former Trump administration officials, and industry experts, thereby strengthening its chances of success. This broad-based support, he believes, speaks volumes about the bill's potential impact.

The anticipated benefits, according to Hagerty, are substantial. The senator foresees the GENIUS Act modernizing the U.S. payment system, replacing outdated infrastructure with contemporary solutions. Furthermore, he projects increased demand for U.S. Treasury securities and a reinforcement of the dollar's global dominance as a direct result of the bill's passage. This modernization, he argues, will propel the United States to global leadership in the stablecoin market. The senator's excitement is palpable, emphasizing the act's potential to establish the U.S. dollar's preeminence on the world stage.

Passage of the GENIUS Act in the Senate, however, will not be the final hurdle. Following the Senate's vote, the bill will proceed to the House of Representatives for further consideration and a subsequent vote. Although Senator Hagerty anticipates a smooth Senate passage, the bill’s ultimate success will depend on its reception in the House. The coming days will be critical as the legislation moves through the final stages of the legislative process.