US EditionSenate advances a major crypto regulation bill on a bipartisan vote
- The Senate advanced the GENIUS Act, a first-of-its-kind stablecoin regulation bill, on Monday evening with a 66-32 bipartisan vote.
- The bill progressed after several weeks of discussions, following an earlier setback when concerns from Democrats about security measures and efforts to combat financial crime prevented its advancement.
- Supporters stressed the bill would provide regulatory clarity, protect consumers, and maintain U.S. Dollar dominance despite criticisms that its stablecoin rules remain toothless.
- Sen. Mark Warner described the bill as a "meaningful step forward," while Sen. Elizabeth Warren warned it is "worse than no bill at all" and could spur corruption and financial risk.
- The vote allows extended debate ahead of final passage, but some Democrats plan to push amendments addressing Trump family crypto dealings, highlighting ongoing divisions.
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117 Articles
Nebraska enacts law to regulate energy use by cryptocurrency mining operations
Nebraska Governor Jim Pillen has signed new legislation aimed at regulating the energy demands of cryptocurrency mining operations. The bill, LB526, was signed into law Tuesday and was introduced on the governor’s behalf by State Senator Mike Jacobson. It establishes a series of requirements to ensure crypto mining businesses are transparent about their energy use and financially responsible for any impact on the state’s electrical infrastructur…
Senate Advances Cryptocurrency Legislation
WASHINGTON—The Senate on May 19 voted to advance a bill that would establish regulations for the cryptocurrency industry, several days after an initial vote failed because of Democratic opposition. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is a bill that seeks to impose regulations on “stablecoins,” which are digital tokens whose value is pegged to another secure asset (e.g., U.S. Treasury bonds and other…
8 Ways Cryptocurrency Adoption Affects Arizona Businesses of All Sizes
Arizona's openness to blockchain innovation and digital currency has greatly affected companies all around since it has become one of the most crypto-friendly states in the U.S. The use of Bitcoin has brought new possibilities from tiny businesses to big…
Stablecoin bill advances in U.S. Senate as Trump critics call to end his crypto dealings
The crypto industry is celebrating this week as a controversial stablecoin bill dubbed the GENIUS Act advanced to debate in front of the full U.S. Senate.Earlier this month, an Abu Dhabi investment firm announced that it would be making a $2 billion investment in the cryptocurrency exchange Binance using a brand new stablecoin called USD1.Unlike risky cryptocurrencies with prices that fluctuate wildly and constantly, stablecoins are basically cr…
Why Are Some Democrats Making Cryptocurrency Too Big to Fail?
Senate Democrats must decide whether to provide the votes to pass a pro-cryptocurrency bill. The measure, the first to regulate the digital currency industry, had been stalled over objections that it would make cryptocurrency too big to fail, enable foreign meddling in American elections, and, in essence, legalize Donald Trump’s cryptocurrency rug-pulling and get-rich schemes. But after negotiators modified it, the bill cleared a crucial Senate …
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