#GENIUSActPass The U.S. Senate approves the GENIUS stablecoin bill with 68 votes in favor and 30 against

The U.S. Law to Guide and Establish National Innovation for Stablecoins, known as the GENIUS Act, is one step closer to becoming law in the United States after the U.S. Senate voted in favor of approving an amended version of the bill.

In a vote on Tuesday of 68-30, the majority of the U.S. Senate decided to pass the GENIUS Act approximately six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The complementary bill, the STABLE Act, may be considered next in the House of Representatives, where it could face additional amendment proposals.

“With this bill, the United States is one step closer to becoming the global leader in cryptocurrency,” said Hagerty from the Senate floor before the Tuesday vote, adding: “Once the GENIUS Act becomes law, businesses of all sizes and Americans across the country will be able to settle payments almost instantly instead of waiting days or even weeks.”

The GENIUS Act initially failed to pass a closure vote in the Senate in May in response to Democratic opposition to U.S. President Donald Trump's connections to the cryptocurrency industry. The Trump family has a significant stake in World Liberty Financial, which issued its own stablecoin USD1 in March.

It is unclear whether the stablecoin legislation will have enough support to pass in the House of Representatives, where Republicans also have a slim majority over Democrats. Trump’s AI and cryptocurrency czar, David Sacks, suggested in May that the president would support