BlockBeats news, on June 18, reported by Politico, that on Tuesday local time, the U.S. Senate passed landmark cryptocurrency legislation (GENIUS Act) aimed at fostering growth in the industry. This marks a historic lobbying victory for digital asset companies in the Senate's first vote on comprehensive regulatory reform for cryptocurrencies.
The U.S. Senate passed the bill with a vote of 68 in favor and 30 against, with 18 Democrats joining the majority of Republicans in supporting its submission to the House for consideration.
This bill, led by Tennessee Republican Senator Bill Hagerty, will establish a U.S. regulatory framework for stablecoins linked to the value of the dollar for the first time.
