U.S. Senate Passes GENIUS Act to Regulate Stablecoins, Marking Crypto Industry Win
The overwhelming bipartisan passage of the U.S. Senate’s stablecoin bill, with a 68-30 final vote that saw a huge surge of Democrats joining their Republican counterparts on Tuesday, sets a new high-water mark of crypto policy efforts in the U.S. as the legislation now heads to the House of Representatives.
The major Democratic backing for the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS) Act helps give it momentum as it lands in the other chamber, where House lawmakers can either vote on it as written or pursue changes that will require a final round in the Senate before it can head to President Donald Trump’s desk.
As written, the bill would set up guardrails around the approval and supervision of…
