Crypto Daily™14 minutes ago

Published on May 20, 2025 14:08 GMT+00:00edited on May 20, 2025 14:09 GMT+00:00

In a significant step for cryptocurrency regulation in the United States, the Senate voted 66-32 on Monday evening to advance the long-debated GENIUS Act — legislation aimed at regulating stablecoins, a category of digital assets pegged to fiat currencies like the US dollar. 

A Bipartisan Path to Advancement

The GENIUS Act initially gained momentum in March after receiving bipartisan approval from the Senate Banking Committee. Senate Republican leadership brought the proposal to the floor earlier this month, seeking to capitalize on growing calls for regulatory clarity in the digital asset sector. The bill marks a rare bipartisan effort on major financial legislation and moves closer to becoming the country’s first comprehensive framework for stablecoin oversight.

However, …