US Senate Passes GENIUS Stablecoin Bill in Landmark Vote
The United States Senate has approved the Generational Economic Network for Internet-based Universal Settlements (GENIUS) Act, a comprehensive measure aimed at regulating dollar-pegged stablecoins and providing legal clarity for the rapidly growing digital-asset sector. Senators backed the legislation by a vote of 68 on the 17th of June, sending it to the Republican-controlled House of Representatives and, if adopted there, on to President Donald Trump for signature. Bipartisan Coalition Signals Changing Politics of Crypto Support for the bill cut across party lines after months of negotiation. Lead sponsor Senator Bill Hagerty, a Tennessee Republican, said the Act “ushers in a new era of payments”, while Democratic co-sponsors argued that comprehensive federal rules were long overdue to protect consumers and encourage responsible innovation. Twelve Democrats ultimately joined 56 Republicans, reversing an earlier attempt to block the measure in May and underlining th...