The U.S. Senate passed the landmark (GENIUS Act) on Tuesday, advancing the federal government's regulatory efforts on stablecoins and putting pressure on the House of Representatives to plan the next phase of the national regulatory efforts on digital assets. This marks the first time the Senate has passed significant cryptocurrency legislation. The sponsor of the (GENIUS Act), Republican Senator Bill Hagerty, thanked some of his Senate colleagues for their support before the formal vote. Less than a week ago, lawmakers voted overwhelmingly to pass the bill, and many expect it to be approved. Next, the House needs to decide how to proceed. In April of this year, the House Financial Services Committee introduced its own stablecoin legislation - the (Stablecoin Transparency and Accountability to Promote Better Ledger Economy Act). However, that bill has yet to be submitted for a full House vote. $BTC
