US Senate passes stablecoin bill in milestone victory for crypto sector | Crypto News
If passed, the bill will establish for the first time a regulatory regime for stablecoins, a fast rising financial product.
The United States Senate has passed a bill to create a regulatory framework for US-dollar-pegged cryptocurrency tokens known as stablecoins, in a watershed moment for the digital asset industry.
The bill, dubbed the GENIUS Act, received bipartisan support on Tuesday, with several Democrats joining most Republicans to back the proposed federal rules. It passed 68-30. The House of Representatives, which is controlled by Republicans, needs to pass its version of the bill before it heads to President Donald Trump’s desk for approval.
Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually…
