Senate passes stablecoin bill, a major victory for the crypto world
The Senate on Tuesday passed a bill that would establish the first federal framework for dollar-backed cryptocurrencies known as stablecoins, a major victory for an industry that has pushed for more favorable oversight in Washington, D.C.
Though passage of the GENIUS Act in the upper chamber by a vote of 68-30 won’t yet make the new legislation law — it still needs approval from the House and President Trump — the crypto world is already lauding the bill’s swift progress as a major step.
“I feel really good about [this bill],” said Dante Disparte, chief strategy officer and head of global policy and operations at Circle (CRCL), the largest US stablecoin issuer.
Circle’s stock has soared roughly 400% since…
