US EditionSenate Passes Stablecoin Framework in Major Crypto Milestone
- The U.S. Senate passed the GENIUS Act on Tuesday with a 68-30 vote to regulate stablecoins in a bipartisan milestone.
- The bill comes after extensive discussions aimed at implementing safeguards and protections for consumers amid worries about President Trump's ties to the cryptocurrency sector.
- Supporters hail the legislation as key to legitimizing stablecoins and strengthening the U.S. role in the expanding digital asset market.
- Opponents including Senators Hawley and Paul objected, while Democrats like Jeff Merkley and Elizabeth Warren warned of inadequate anti-corruption measures.
- The bill now goes to the House, signaling progress yet leaving unresolved concerns over presidential conflicts and the need for further legislation.
67 Articles
67 Articles
Senate Passes GENIUS Act—Coinbase's Brian Armstrong Calls It 'Big Milestone,' Scott Bessent Says Passage Could Drive Stablecoins Into A $3.7 Trillion Market
In a significant development, the Senate passed the GENIUS Act on Tuesday, a bill establishing the country’s first regulatory framework for dollar-pegged stablecoins. Prominent names tied to the cryptocurrency industry soon took to social media to celebrate the passage. What happened: Brian Armstrong, CEO of America's largest cryptocurrency exchange, Coinbase Global Inc. (NASDAQ:COIN), called it a "big milestone." Big milestone! https://t.co/h…
Senate passes GENIUS stablecoin bill in a win for the crypto industry
In a 68-30 vote on Tuesday evening, the Senate overwhelmingly passed the GENIUS Act with bipartisan support. Eighteen Democrats joined the majority of Republicans in passing the bill, which is the first to establish a federal regulatory framework for stablecoins, crypto tokens that are pegged to the value of the US dollar. In the past year, and after the crypto industry funneled over $131 million into Donald Trump's presidential campaign, the Re…
On Tuesday, the United States Senate passed the GENIUS Act, a legislative bill that for the first time in history sets federal limits for dollar-linked stablecoins, and also creates a regulated avenue for private companies to broadcast digital dollars with the backing of the federal government. Different economists have rated this event as one of the most important within the cryptocurrency industry, taking into account the nearly 250 million do…
Senate Passes Crypto Bill ‘Genius Act’ in Bipartisan Vote
The Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, commonly known as the Genius Act, on June 17, marking a significant step in cryptocurrency regulation. In a rare glimpse of bipartisan support in the upper chamber, senators voted 68 to 30 in favor of the bill. The Genius Act aims to regulate the $200 billion stablecoin market, providing the banking and finance sectors with a clearer regulatory framework…
Stablecoins Legislation Signals Major Shift in Crypto Regulation
The Senate has passed the GENIUS Act to regulate stablecoins, a step seen as enhancing the legitimacy and consumer confidence in the cryptocurrency sector. Despite resistance and concerns over Trump's financial interests, the bill indicates bipartisan efforts for regulation and positions the U.S. as a leader in crypto governance.
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