#GENIUSActPass This is the first instance in which the Senate has approved significant cryptocurrency legislation after many years during which key Democratic lawmakers blocked the advancement of such legislation.

The bill is headed to the House of Representatives where its further steps remain uncertain as leading legislators develop a strategy for its passage.

The overwhelming bipartisan approval by the U.S. Senate of the stablecoin bill, with a final vote of 68-30, in which a significant number of Democrats joined their Republican colleagues on Tuesday, sets a new record in efforts to regulate cryptocurrencies in the U.S. as the legislation now moves to the House of Representatives.