$USDC

The Law to Guide and Establish National Innovation for US Stablecoins, known as the GENIUS Act, is one step closer to becoming law in the United States after the US Senate voted in favor of approving an amended version of the bill.

In a vote on Tuesday of 68-30, the majority of the US Senate decided to approve the GENIUS Act approximately six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The companion bill, the STABLE Act, could be considered next in the House of Representatives, where it may face additional amendment proposals.