#GENIUSActPass The Law to Guide and Establish National Innovation for U.S. Stablecoins, or the GENIUS Act, was approved by the U.S. Senate in a 68-30 vote on Tuesday, according to Cointelegraph. The bill aims to establish clear rules for the collateralization of stablecoins and requires compliance with anti-money laundering laws.

The Senate vote sends a "strong positive signal to institutions" that brings the bill one step closer to becoming law, according to Katalin Tischhauser, head of investment research at the digital asset bank Sygnum.