#GENIUSActPass Yesterday the Senate passed the GENIUS Act, the first stablecoin legislation to be approved by either Congressional chamber after several years of trying. The vote of 68 to 30 was the same count as the procedural vote last week. Eighteen Democrats voted in favor on both occasions, but previous supporter Mark Kelly abstained, while Jon Ossoff backed the bill this time around.

In order to become law, both chambers will have to vote in favor, with the House having a separate STABLE Act bill with quite a few differences, as explored earlier this month. However, this is a major legislative breakthrough, as it’s the first major digital asset legislation approved by the Senate.