U.S. Representative French Hill and Senator Cynthia Lummis are looking to revise the GENIUS Act, which governs U.S. stablecoin laws, as part of the upcoming Senate market structure bill. Hill noted that the House of Representatives' Clarity Act included changes aimed at enhancing the GENIUS Act. Key amendments proposed include increasing accountability for CEOs and CFOs, preventing non-financial companies from entering the stablecoin market, and ensuring that U.S. investors can securely manage their digital assets. Hill emphasized the importance of collaboration between the Houses to strengthen regulations. Senator Lummis, who supports the revisions, is aiming for the Senate to wrap up the bill by year-end. The updated legislation is expected to facilitate clearer oversight of the stablecoin industry while maintaining respect for the original amendments made by the House. The progress has faced some skepticism, but both Hill and Lummis are optimistic about meeting their targets.

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