U.S. Senate Passes GENIUS Act to Regulate Stablecoins, Marking Crypto Industry Win.
The legislation to set rules for stablecoin issuers is the first major digital assets bill to ever clear the Senate and now moves on to the U.S. House
The U.S. Senate has approved the GENIUS Act with an overwhelming bipartisan vote.
This marks the first time the Senate has ever cleared a major piece of crypto legislation after years in which key Democratic members blocked the advancement of such legislation.
The bill heads to the House of Representatives, where its next steps remain uncertain while leading lawmakers work out a strategy for passage.