#GENIUSActPass Senate passes landmark
crypto legislation with bipartisan support. The bill to regulate stablecoins represents a win for the cryptocurrency industry. A House vote is next before President Trump can sign it into law.A landmark bill to regulate cryptocurrency passed the Senate on June 17, creating a path for digital assets to go mainstream and representing a big win for an industry that spent heavily to get President Donald Trump elected. The 68-30 vote reflects a major victory for the crypto industry, which has been aggressively lobbying Congress on the legislation. The bill next must be approved by the Republican-led House before Trump can sign it into law
The bill, dubbed the GENIUS Act, would create
a framework to regulate stablecoins.
Stablecoins are a type of cryptocurrency that are tied to the value of another asset, like the U.S. dollar. Comparatively, most cryptocurrency fluctuates based on market valuation, like Bitcoin and Ethereum.
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