Dated: 2025-06-17. Added: 2025-06-27.

The Senate on Tuesday passed legislation to establish a regulatory framework for stablecoins, putting the cryptocurrency industry, which had long been viewed with suspicion by lawmakers in Washington, on the brink of a major policy breakthrough.

Bipartisan approval of the bill, known as the GENIUS Act, followed an aggressive lobbying campaign aimed at transforming the cryptocurrency industry’s image from scandal-plagued experiment to legitimate financial sector.