The Senate is poised to pass a bill to regulate stablecoins, the lifeblood of the crypto market, awarding the industry a victory it has sought for years. The industry’s bigger goals will be harder to achieve, and risk delaying today's win.

Lawmakers are scheduled on this afternoon to vote on the bill, which establishes rules for stablecoins, a type of crypto token that is most often pegged to the dollar and backed by reserves. The bill cleared a key procedural hurdle in May and is expected to easily garner the votes needed to pass.#SenateVote