The US Senate will hold a procedural vote on the stablecoin regulation bill in the early morning

According to crypto journalist Eleanor Terrett, the US Senate is scheduled to hold a procedural vote on the updated version of the stablecoin regulation bill, the GENIUS Act, at 1:45 PM EST (1:45 AM Beijing time on May 9). It is reported that after late-night negotiations and last-minute text updates between Senate Republicans and Democrats, the voting will be a "heated showdown". The bill needs to receive 60 votes in favor. The current Senate Republicans hold 53 seats and Democrats hold 47 seats. Republicans need to win the support of at least seven Democrats.