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

The bill was passed without amendments to address Donald Trump's connections to the World Liberty Financial stablecoin, something many Democrats had demanded.

The U.S. National Stablecoin Innovation and Guidance Act, 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 approve the GENIUS Act roughly six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The complementary bill, the STABLE Act, could be considered next in the House of Representatives, where it may face additional amendment proposals.

“With this bill, the United States is one step closer to becoming the global leader in cryptocurrency,” Hagerty said from the Senate floor before the vote on Tuesday, 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.” $USDC