GENIUS Act Moves Closer to Full Consideration

Posted by Ryan Fitzgerald on June 9, 2025

The U.S. Senate is drawing closer to full consideration of the GENIUS Act (S. 1582), the legislation that aims to establish a federal regulatory structure for a U.S. Stablecoin payments system. Senate Majority Leader John Thune (R-SD) filed for cloture on the final version of the GENIUS Act, earlier this afternoon, which will initiate another procedural vote in the Senate on this legislation, as soon as Wednesday. If successful, the Senate will move to full consideration of the legislation, likely this week.

Majority Leader Thune and bill authors, Senators Cynthia Lummis (R-WY) and Bill Hagerty (R-TN) have been working to find an acceptable deal on amendments that would allow them to proceed with debate and final consideration on the bill, which has general bi-partisan support. The challenge has been a fight with Senator Roger Marshall (R-KS) who is working diligently to force a vote on the language from the controversial Credit Card Competition Act, which GoWest strongly opposes and has been advocating against its inclusion in the legislation over the past several weeks.

As of late Monday evening, GoWest Advocacy Team members are hearing that Thune has filed cloture on both the manager’s amendment to the bill as well as the original bill, without inclusion of the Marshall-Durbin amendment. The Senator filed an accepted group of amendments for debate under his cloture agreement, which DID NOT include the Marshall-Durbin amendment either.  If the cloture motion passes, the Senate will then proceed to debate the bill itself, over an agreed upon 30 hours, which will be split between Republicans and Democrats. The amendments that have been agreed upon and submitted will also be considered in this time frame, prior to a final vote on passage.

It has been shared amongst Hill staff members that the Marshall-Durbin amendment may not have been accepted as germane to the bill, and it would likely have been disallowed by the Senate parliamentarian. Senator Marshall is still actively working to get the amendment voted on by the full Senate. There are maneuvers that are still available to Marshall, but they are less likely to be supported by the majority of the Senate.

GoWest will continue to closely monitor as the Senate proceedings continue this week.

Posted in Advocacy on the Move, Federal Advocacy.