Crypto hails Senate vote on stablecoin bill as a major victory
The Senate is preparing for a final vote Tuesday on 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 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%…
