The U.S. stablecoin bill remains stalled in the Senate, but the Digital Chamber believes the delay is temporary.

The bill, formally titled the Guiding and Establishing National Innovation in U.S. Stablecoins of 2025, or GENIUS Act, failed to pass a procedural vote on May 8.

Key Insights:

* The U.S. stablecoin bill, known as the GENIUS Act, is expected to return to the Senate floor for a final vote within the next few weeks, predicts the Digital Chamber.

* The bill, which stands for "Guiding and Establishing National Innovation in U.S. Stablecoins of 2025," failed to pass a procedural vote on May 8, but industry figures say it should be recirculated soon with bipartisan support.

* After several Democratic senators pulled their support for the bill, a revised version has been drafted to remove any mention of the Trump family, aiming to increase the chances of a full vote before the end of May.

* As Congress stalls on the GENIUS Act, one U.S. territory, the island of Tinian in the Northern Mariana Islands, has passed a local bill to issue a stablecoin called the Marianas US Dollar (MUSD).

* The token, which will be backed by cash and U.S. Treasury bills and run on the eCash blockchain, could launch as early as July, making Tinian the first public U.S. entity to issue a stablecoin.

The Digital Chamber believes that the delay in the U.S. Senate vote on the stablecoin bill, formally titled the GENIUS (Guiding and Establishing National Innovation in U.S. Stablecoins of 2025) Act, is temporary and the legislation will move forward in the next few weeks.

Speaking at Consensus 2025, Cody Carbone, chief policy officer at the Washington, D.C.-based blockchain advocacy group, responded to a question about the bill's status.

"Yes, it's a bump in the road, but very, very shortly, we will have another vote on the bill and it will pass the Senate and the House and the President will sign it, and we will have stablecoin regulation in the United States," Carbone stated.

The setback follows growing partisan tension in Washington, where several Democratic lawmakers pulled support for the GENIUS Act.

Reports suggest that the Democrats are wary of President Donald Trump's deepening involvement in crypto markets, particularly his engagement in the memecoin space and NFT sector, which has drawn ethics concerns.

Some Democrats have also accused Republicans of using stablecoin regulation to push pro-Trump digital asset agendas.

"It’s no secret that the MAGA agenda is focused on rolling back consumer protections and deregulating Wall Street," a Democratic aide told Politico.

"That agenda is now reaching new highs with the GOP’s attempt to jam through a last-minute, hastily written stablecoin bill that would create a regulatory framework for crypto in the United States."

The sudden stall of the bill drew backlash from Republican lawmakers. Senator Tim Scott, a leading GOP voice on financial services, accused Democrats of sabotaging the bill to avoid giving Trump credit for digital asset regulation.

"The bipartisan support for the GENIUS Act is well-known," Scott argued. "Stripping references to the Trump family from the bill could help revive support for the legislation."

Sources indicate that the revised version of the bill, which is being circulated to senators this week, removes any mention of Trump to increase the chances of a full vote before the end of May.

Industry executives align with that view. Without the distraction of partisan framing, the bill can regain traction and pass ahead of the 2026 midterm election cycle.

"We're hearing it could be as early as next week for another vote on the GENIUS Act," an executive at a major crypto bank told Blockworks. "There's hope that it could pass before the 2026 election, which would be ideal."

The bill's sudden stall drew criticism from Republicans. Senator Tim Scott, a leading GOP voice on financial services, accused Democrats of sabotaging the bill to avoid giving Trump credit for digital asset regulation.

"The bipartisan support for the GENIUS Act is well-known," Scott argued. "Stripping references to the Trump family from the bill could help revive support for the legislation."

Sources indicate that the revised version of the bill, which is being circulated to senators this week, removes any mention of Trump to increase the chances of a full vote before the end of May.

Industry executives align with that view. Without the distraction of partisan framing, the bill can regain traction and pass ahead of the 2026 midterm election cycle.

"We're hearing it could be as early as next week for another vote on the GENIUS Act," an executive at a major crypto bank told Blockworks. "There's hope that it could pass before the 2026 election, which would be ideal."

As Congress struggles to pass the GENIUS Act, one U.S. territory has taken matters into its own hands.

The island of Tinian, part of the Northern Mariana Islands, passed a local bill to issue a