US EditionSenate Passes Stablecoin Bill in Big Win for Crypto Industry
- The U.S. Senate passed the GENIUS Act on Tuesday in Washington, a bipartisan 68-30 vote establishing regulations for stablecoins.
- The bill follows months of bipartisan negotiations amid concerns it inadequately addresses President Trump’s personal financial interests in crypto.
- Supporters said the legislation would modernize the financial system, define digital assets’ regulatory status, and position the U.S. as a crypto leader.
- Ahead of the Senate vote, Treasury Secretary Scott Bessent supported the legislation, forecasting that the stablecoin sector could expand to $3.7 trillion by 2030, while Senator Durbin expressed concerns over insufficient consumer safeguards and possible conflicts of interest.
- The legislation now moves to the Republican-controlled House, where it must pass before reaching President Trump, who wants it signed before Congress's August recess.
176 Articles
176 Articles
US set for crypto overhaul, Senate passes Genius Act to regulate Stablecoins
The US Senate has passed the Genius Act with strong bipartisan support marking a historic shift toward federal regulation of stablecoins and signalling a new era for the cryptocurrency industry
The agreement in Congress on the Stablecoin Act is considered safe. The consequences will be felt quickly and worldwide: banks, credit card companies and the European Central Bank could be under pressure. And Switzerland?
'Lightning fast': House lawmakers get a stern directive from Trump
President Donald Trump took to his Truth Social platform on Wednesday to demand that the House immediately act on a new package of cryptocurrency laws passed by the Senate."The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will d...
Coinbase stock surges 16% on a fresh wave of momentum from landmark crypto bill
Coinbase CEO Brian Armstrong.Patrick T. Fallon / Getty ImagesCoinbase stock surged on Wednesday as crypto bullishness jumped after the latest policy developments. Coinbase and other crypto stocks rallied after Congress passed a big bill aimed at stablecoins. Circle stock also soared, ending the session up over 30%. Shares of Coinbase spiked on Wednesday, with the largest US crypto exchange riding a wave of bullishness created by the Senate's pas…
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