The Senate on Tuesday passed the GENIUS Act, a landmark bill that for the first time establishes federal guardrails for U.S. dollar-pegged stablecoins and creates a regulated pathway for private companies to issue digital dollars with the blessing of the federal government.
The bill passed with a 68-30 vote.
It’s a milestone day for the crypto industry and for President Donald Trump’s sprawling digital asset empire.
This is the first legislative victory for the digital asset industry, which put around $250 million in the 2024 cycle to elect what’s now considered to be the most pro-crypto Congress in U.S. history.
The bill still faces hurdles in the Republican-held House, but passage in the Senate signals a turning point — not just for the technology, but for the political clout behind it.
