The Senate approves the GENIUS bill on stablecoins, granting the cryptocurrency industry its first major legislative victory
The GENIUS Act establishes the first federal framework for dollar-pegged stablecoins, granting broad authority to the Department of the Treasury and opening the door to banks, fintech companies, and retailers.
Democrats failed to secure a provision that would prohibit the president from profiting, even as Trump revealed having made 57 million dollars in token sales alone in 2024.