U.S. Senate Approaching Landmark Vote on Stablecoin Bill

The U.S. Senate is poised for a historic vote on a bill regulating stablecoins, marking the first cryptocurrency legislation in the country’s history. The GENIUS Act, sponsored by Senator Bill Hagerty (R-Tenn.) and co-sponsored by Senator Cynthia Lummis (R-Wyo.), aims to establish national standards for dollar-pegged stablecoins, addressing long-standing concerns regarding their regulation within the rapidly evolving crypto market.