In brief
- The Senate passed the GENIUS Act, its first major piece of crypto legislation Tuesday.
- The bill establishes a framework for issuing and trading stablecoins, cryptocurrencies usually pegged to the U.S. dollar.
- The GENIUS Act still needs to be passed by the House, which may not move immediately to vote on the legislation.
After months of dramatic starts and stops, the U.S. Senate successfully passed the GENIUS Act Tuesday afternoon, a landmark bill that formally establishes a framework for issuing and trading stablecoins in the United States.
Stablecoins are crypto tokens typically pegged to the U.S. dollar that allow users to enter and exit crypto positions without accessing dollars directly. For this reason, they are a key ramp…
Jun 18 2025
