Senate Approves Stablecoin Regulation Bill—Despite Opposition Over Trump’s Crypto Ties
Topline
Senators approved legislation Tuesday to regulate stablecoins, a major win for the crypto industry despite some bipartisan conflict-of-interest concerns related to President Donald Trump’s crypto ventures.
The bill passed the Senate on Tuesday evening. (Photo by Kevin Carter/Getty Images)
Key Facts
The Senate voted 68-30 to approve the “Guiding and Establishing National Innovation for U.S. Stablecoins,” known as the GENIUS Act, which would establish a regulatory framework for stablecoins, legitimizing their use for issuers and custodians.
The bill passed with bipartisan support and now heads to the House for a vote.
The bill appeared poised for passage headed into Tuesday’s vote after…
