#GENIUSActPass

The Senate approved on Tuesday the GENIUS Act, a historic bill that for the first time establishes federal limits for dollar-backed stablecoins and creates a regulated path for private companies to issue digital dollars with the blessing of the federal government.

The bill was passed with a vote of 68-30.

It is a historic day for the crypto industry, which invested around $250 million in the 2024 cycle to elect what is now considered the most pro-crypto Congress in U.S. history, and for the vast digital asset empire of President Donald Trump.

"The GENIUS Act will protect consumers, allow for responsible innovation, and safeguard the dominance of the U.S. dollar," said Senator Kirsten Gillibrand, D-N.Y., one of the bill's sponsors, in a statement.