Crypto Czar David Sacks: The passage of the procedural motion for the GENIUS Act is a major victory for the cryptocurrency sector

Mars Finance News: White House Cryptocurrency and AI Director, Crypto Czar David Sacks, commented on the passage of the procedural motion for the "GENIUS Stablecoin Act" in the Senate, stating, "This legislation creates a legal framework for stablecoins, which is a major victory in the cryptocurrency field. The bill will now proceed to a full Senate vote. Thanks to Senator Bill Hagerty, who successfully secured over 60 votes of support for the GENIUS Act." Previously, the U.S. Senate voted to advance the "GENIUS Stablecoin Act" to formal deliberation through a cloture motion, with at least 15 Democratic lawmakers changing their stance to vote in favor, including Cortez Masto, Adam Schiff, Mark Warner, and others. The bill will now enter a comprehensive review process, having only passed the cloture motion and not yet been fully approved. The GENIUS Act will next enter a debate and amendment phase in the Senate.