• The crypto-focused GENIUS Act advanced in a procedural vote in the Senate Monday night.

• The bill aims to create the first regulatory framework for stablecoins, a growing corner of the crypto market.

• Holdouts among Democrats won some concessions, including tighter rules for potential token issuers.

A long-anticipated stablecoin bill has broken through Senate opposition to bring a key piece of crypto legislation one step closer to becoming law.

The bill advanced in a procedural vote that garnered bipartisan support two weeks after Democrats balked at the proposed legislation.

Early opposition feared that the bill would enable…