Senate Advances GENIUS Act in Bipartisan Vote, Paving Way for Federal Stablecoin Regulation

The U.S. Senate took a decisive step toward establishing federal oversight of stablecoins, passing the GENIUS Act with a 66-32 vote. The bipartisan legislation marks the first comprehensive framework for dollar-pegged digital assets, overcoming weeks of political gridlock.

Sixteen Democrats crossed party lines to support the bill, reflecting growing recognition of stablecoins’ role in modern payments. "Tonight we bring America’s financial infrastructure into the digital age," declared one senator as the chamber approved the long-stalled proposal.

The legislation creates regulatory clarity for issuers while maintaining dollar parity safeguards—a critical development as global competitors race to establish cryptocurrency standards. Market observers anticipate the framework could accelerate institutional adoption of blockchain-based settlements.