The US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar, in a landmark win for the ascendant crypto industry and President Donald Trump.The 68-30 vote on Tuesday evening marked a rare moment of bipartisanship in the deeply divided Senate,

The U.S. Senate passed the Donald Trump-backed stablecoin bill on Tuesday, a significant victory for the crypto industry, which donated millions of dollars to the 2024 presidential election. The so-called ‘Genius Act’ will regulate stablecoin digital assets,

The GENIUS Act is the first major crypto-related bill to clear the Senate. However, the House does have its own Digital Asset Market Clarity Act, which is a more sweeping crypto bill that would provide a framework for the wider crypto market, not just stablecoins.