A landmark crypto bill just advanced in Congress. Here’s what it aims to do.
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The crypto-focused GENIUS Act advanced in a procedural vote in the Senate Monday night.
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The bill aims to create the first regulatory framework for stablecoins, a growing corner of the crypto market.
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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…
