Crypto: crucial vote in the Senate on the Stablecoins this June 17

While the Crypto market is desperately looking for a CAP, the American Senate is about to lay the first stones of a legal framework for stablecoins. The vote of June 17 could well redistribute the cards, both for institutions and for digital giants.

The time of truth for American stablecoins

The United States may be about to cross a decisive course in the regulation of cryptocurrencies. It is not one more rumor or yet another project buried in committee: the American Senate will vote this Monday, June 17 on a text which could act as cornerstone for the stablecoins. The Genius Act, an acronym that smells of marketing strategy, intends to mark, structure and legitimize a market still largely left to itself.

But behind the appearances of a promising legal framework, political maneuvers and private interests blur the lines. This vote is not limited to a technical decision: it embodies a real show between monetary innovation and institutional power. And as often in crypto, appearances are misleading.

The Genius Act, far from being a legislative gadget, could become the first federal law to explicitly supervise stablecoins in the United States. In other words, the American state would finally stop looking at the explosion of stable assets circulating on blockchains, to define the rules of the game.

This projectif adopted, would impose a clear regulatory framework on companies issuing Stablecoins. This means that giants like Walmart or Amazon, already in ambush, could officially start on this ground with the downstream of the state. The ambitions of the Big Tech would thus be softened by the legislator, a strong signal which does not fail to worry certain senators.

Because the stake exceeds the simple perimeter of cryptos. It is a fight of influence on the control of digital currency. And in this part, private companies are advancing faster than public institutions. Unless the law comes to slow down, or catalyze this movement.

Crypto and conflicts of interest: Trump's shadow hovers over the Senate

As often in large American maneuvers, the spotlights invite themselves where the interests are caught. The crypto is no exception to the rule: suspicions hang over opaque ties between the Trump family and World Liberty Financial, a company involved in the program of a Stablecoin. Nothing proven, but enough to nourish mistrust.

Consequence: several amendments have been proposed to exclude any possibility of collusion between elected officials and digital asset transmitters. The objective? Prevent some parliamentarians from legislating their own benefit, or worse, that of their loved ones. An initiative welcomed by the defenders of an ethical crypto, but denounced by others as a diverted means of slowing down the legislative process.

This tense climate, however, did not prevent the Senate from adopting the closing procedure by 68 votes to 30. A revealing figure: the text benefits from significant support, including within the Democratic majority. But the final vote remains suspended from a fragile political dynamic, and any change is still possible.

The crypto divided between two rooms, two visions of the future

While the Senate strives to supervise the stablecoins, the House of Representatives explores another path: that of institutional clarification. The Clarity Act, adopted in committee, seeks to distribute the responsibilities between the SEC and the CFTC in terms of digital assets. The idea: to get out of the current vagueness that slows down innovation and scares away projects towards more flexible jurisdictions.

But then again, nothing is simple. The Republicans, in accuracy, are not sure they have the voices necessary to pass the text. And above all, the absence of bipartite consensus prevents any coherent overall vision.

Basically, what is played out between the Senate and the Chamber is a war of stories about the crypto: one speaks stability and monetary sovereignty, the other defends innovation and regulatory clarity. But without coordination, these two approaches are likely to neutralize themselves.

The voting of June 17 far exceeds the crypto sphere. It is not only a question of regulating tokens leaning against the dollar. It is a question of deciding who will have the right to hit digital currency in the America of tomorrow: the state? Banks? Tech giants? Or an unstable mixture of the three?

While waiting for the verdict, the crypto market holds its breath. Because whatever the result, the Genius Act opens a new era. An era where decentralized finance should, whether or not they like it, deal with the law.