PANews reported on May 20 that U.S. Senator Cynthia Lummis said on social media that digital assets represent the future and the United States is now one step closer to leading the field. This statement came right after the Senate passed the procedural vote on the stablecoin bill "GENIUS Act". The bill aims to establish a regulatory framework for stablecoins and their issuers. Previously, the Democrats collectively blocked the bill because they expressed concerns about President Trump's involvement in cryptocurrencies and consumer protection clauses. Although Senator Warren still firmly opposed it, many Democrats changed their positions and pushed the bill forward. The bill still needs to be coordinated by the Senate and the House of Representatives and finally signed into law by the president.