US EditionSenate Passes Stablecoin Bill in Big Win for Crypto Industry
- The U.S. Senate passed the GENIUS Act on Tuesday by a 68-30 bipartisan vote, establishing a regulatory framework for stablecoins.
- The legislation advanced amid growing calls to regulate stablecoins, driven by the crypto industry's influence and a push for passage before August recess.
- The bill intends to implement regulatory measures and safeguards to protect consumers involved with stablecoins, which are cryptocurrencies generally tied to the value of the U.S. dollar.
- Andrew Olmem called the bill "a major milestone" establishing the first regulatory regime for stablecoins, while critics raised concerns about unresolved Trump-related conflicts of interest.
- The bill now moves to the House for consideration, marking a key step for U.S. crypto leadership despite continuing debate over presidential conflict safeguards.
147 Articles
147 Articles
Senate passes bill to regulate crypto
WASHINGTON — The Senate passed legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers.
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…
Another Dumbest Day In History: Senate Approves Cryptocurrency Bill
I still remember in the waning days of the Bill Clinton presidency standing in line at a store and reading a newspaper (this was before the internet) how Clinton had signed a law repealing the Glass Steagull Act — a 1933 law enacted in response to the...
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…
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