#GENIUSActPass

The GENIUS Act, a historic bill that for the first time imposes federal safeguards for U.S. dollar-pegged stablecoins and establishes a regulated pathway for private companies to issue digital dollars with the approval of the federal government, was passed by the Senate on Tuesday. By a vote of 68-30, the bill was approved.

It's a historic day for President Donald Trump's vast digital asset empire and the cryptocurrency industry, which invested about $250 million in the 2024 election cycle to elect what is now regarded as the most pro-crypto Congress in American history. In a statement, Sen. Kirsten Gillibrand, D-N.Y., one of the bill's sponsors, said, "The GENIUS Act will protect consumers, enable responsible innovation, and safeguard the dominance of the U.S. dollar."