The Senate approves the GENIUS Act to regulate stablecoins; the CEO of Ripple calls it a victory

The U.S. Senate has approved the GENIUS Act, a landmark bill that establishes a regulatory framework for stable payment currencies. This move represents a significant shift in the oversight of digital assets, as lawmakers seek to provide clarity in the cryptocurrency sector.

With broad bipartisan support, the bill aims to protect consumers while enhancing national security measures related to digital finance.

This legislation reflects months of negotiations involving lawmakers, industry experts, and regulatory specialists. With the bill now referred to the House of Representatives, it empowers the United States to lead the global regulation of stablecoins.