#GENIUSActPass

The U.S. Senate passes the GENIUS Act: the long-awaited framework for stablecoins is getting closer to reality.

In a vote of 66 to 32, the United States Senate overcame a filibuster and approved the National Stablecoin Innovation and Guidance Act (GENIUS), the first comprehensive federal regulatory framework for stablecoins.

"The GENIUS Act, which is bipartisan, will bring regulatory clarity to this important industry, maintain innovation in the country, enhance consumer protection, and reaffirm the dominance of the U.S. dollar," said Senator Kirsten Gillibrand (Democrat from New York), who co-sponsored the bill along with Senator Bill Hagerty (Republican from Tennessee), Chairman Tim Scott (Republican from South Carolina), Senator Cynthia Lummis (Republican from Wyoming), and Senator Angela Alsobrooks (Democrat from Maryland).