On Tuesday 17, in Washington, the Senate passed the US crypto regulations bill, the GENIUS Act on a 68-30 two-party vote, marking the first official bipartisan motion to establish federal regulations for stablecoins in the digital currency economy.
The GENIUS Act passing marks the dawning of a new chapter for Federal cryptocurrency policy, where lawmakers move to set crypto assets guidelines.
Investment and interest in stablecoins continue to rise, and the need for bulletproof crypto federal regulations is becoming more urgent. The US Senate’s bipartisan move shows how Washington is handling digital assets seriously, not only as technology trends, but as financial instruments too.
With this initiative, the debate is now shifted to the House of Representatives, where house stablecoin bill is also on the channel.
Stablecoins Get Federal Attention
The GENIUS Act is the first-ever bipartisan crypto bill to put in place a full framework for stablecoins, crypto tokens that are pegged at a certain value against the US dollar. The Senate’s 68-30 vote, during which 18 Democrats joined most Republicans, suggests broad political backing for the idea of a safer, more-regulated crypto ecosystem.
While Senators Josh Hawley and Rand Paul opposed the bill, arguing they were afraid of being controlled by technology, the majority saw the measure as a step that was needed. Then to the House, where members are working on their legislation of the stablecoin bill, the STABLE Act crypto rule discussions are in full swing.
Crypto Lobbying. Political Divide.
Passing the GENIUS stablecoin bill in the Senate was not a walkover.
In May, some Democrats turned back on their previous support, and progress was halted. Even Senators Elizabeth Warren and Ron Wyden voted to block a floor vote, raising ethical concerns related to Trump’s crypto ties and a memecoin incident. Warren, a member of the Senate Banking Committee and a longtime advocate for tighter financial regulation, finally voted no.
“It would make Trump the regulator of his own financial company and, critically, the regulator of his competitors,” Warren cautioned.
Despite this, passage of the bill is a win for the crypto space, which has gone all out to shape US cryptocurrency regulations. described the GENIUS Act crypto bill as the beginning of good things.
“If the GENIUS Act collapses, everything behind it collapses,” Ledger’s Seth Hertline said to The Verge. With the Senate stablecoin bill now heading to the House, the ground is being laid for how the US will enforce and regulate crypto rules in the next few years.
US crypto regulations with the GENIUS Act passage are a turning point in how Washington views digital finance as a transformative force. As crypto becomes more politically influential, the real test will be whether future US regulations in crypto will prioritize innovation, accountability, or influence.
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