$USDC The stablecoin bill in the U.S. Senate has just been passed overwhelmingly with a vote of 68-30 on Tuesday, marking an important milestone in the effort to build cryptocurrency policy in the U.S. Strong support from Democratic senators — alongside Republican members — has provided a significant boost for the bill as it moves to the House of Representatives.

The bill, titled the "GENIUS Act," establishes a legal framework to oversee and approve stablecoin issuers in the U.S., including dollar-pegged tokens such as Circle's USDC, Ripple's RLUSD, and Tether's USDT. Accordingly, companies issuing stablecoins for U.S. users will have to comply with strict requirements regarding asset reserves, operational transparency, anti-money laundering measures, and will be subject to oversight by regulatory authorities — likely accompanied by new capital regulations.