The previously hot topic stablecoin GENIUS bill has passed in the Senate with a result of 68 votes in favor and 30 votes against.

However, for it to be fully passed, it still needs to go through the House of Representatives.

This means that stablecoins backed by assets like the US dollar and US Treasury bonds will not only gain recognition but also become a new trend in the future.

Interestingly, Circle's stock price in after-hours trading surprisingly did not fluctuate due to this news.