GENIUS Act vote could redefine stablecoins as internet payment infrastructure

The U.S. Senate is set to vote on the GENIUS Act this week, with Wall Street-based asset manager Bernstein expecting it to become law in the coming months, CoinDesk reported. The bill would regulate stablecoins as digital cash, push mainstream adoption and limit non-financial firms like Amazon and Walmart from issuing their own tokens—likely requiring them to partner with regulated issuers instead.