<ul><li>The GENIUS Act gained crucial Democratic support in the Senate, with sixteen Democrats changing their votes to back the bill, indicating a bipartisan push for the legislation.</li><li>Key provisions of the GENIUS Act include stablecoin oversight, a ban on big tech companies from issuing stablecoins, a regulatory shift towards Treasury oversight, and implementation of consumer protections.</li><li>The bill is advancing to the next legislative phase for debate and amendments after successfully passing a key procedural vote in the Senate.</li><li>The GENIUS Act will now proceed to the House of Representatives for further discussion and potential revisions, with expectations of smoother passage due to the Republican majority in the chamber.</li></ul>

GENIUS Act Gains Key Democratic Support, Moves to Next Legislative Phase

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