Senate Advances GENIUS Act: Major Step Towards Stablecoin Regulation

The U.S. Senate has taken a significant step forward in regulating stablecoins, passing the GENIUS Act out of committee and paving the way for its future implementation. After weeks of political deadlock, this landmark legislation aimed at establishing the first framework for stablecoin regulation in the United States cleared a critical hurdle with a 66-32 vote. This bipartisan victory saw 16 Senate Democrats joining Republicans to overcome previous roadblocks, indicating a shift towards action on this crucial matter.