According to Politico, US Senate Majority Leader John Thune said in a closed-door meeting that the Senate will deal with the GENIUS bill introduced by Senator Bill Hagerty by May 26. The bill, which passed the Senate Banking Committee in March, would restrict the issuance of payment stablecoins by any entity other than "licensed payment stablecoin issuers". The House of Representatives has also proposed a companion bill, the STABLE Act. Democratic lawmakers have criticized Trump's close ties to the relevant stablecoin companies, risking an "unprecedented conflict of interest".