#GENIUSActPass WASHINGTON — After weeks of stalemate, Senate Republicans joined a bloc of Democrats on Tuesday to pass a landmark cryptocurrency bill that will establish the first regulatory framework.

The vote marked the first time the Senate has passed significant legislation regulating digital assets.

The GENIUS Act now heads to the Republican-led House of Representatives, which is working to pass its own bipartisan bill focused on creating a regulatory framework for digital assets.

Washington continues to grapple with how best to regulate the rapidly evolving cryptocurrency industry. Democrats are divided on the issue, with some in the bill addressing key sticking points for Democrats.

The changes include safeguards to protect consumers and restrictions on tech companies issuing stablecoins, digital tokens tied to fiat currencies like the U.S. dollar, and will extend ethical standards to specific public officials.

The bipartisan deal unlocked support from a broader group of Democrats and the legislation.