Historic Stablecoin Bill Advances in Senate, Setting Stage for America’s Crypto Framework
The United States moved a significant step closer to establishing its first comprehensive cryptocurrency regulatory framework Wednesday, as the Senate positioned the landmark GENIUS Act for final passage following intense negotiations that saw Democrats and Republicans find common ground despite fierce opposition from Senator Elizabeth Warren.
The stablecoin legislation, formally known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act, cleared a crucial procedural hurdle in a 66-32 cloture vote Monday evening, with 16 Democrats joining the Republican majority to advance the bill. This dramatic turnaround came just two weeks after the same legislation failed to garner sufficient support, highlighting the…
