US Senate Passes Landmark Stablecoin Regulation Bill with Bipartisan Support

The US Senate has approved the GENIUS Act, marking the first comprehensive regulatory framework for stablecoins. The bill passed with a 68-30 vote, backed by both Democrats and Republicans, signaling rare bipartisan consensus on crypto policy.

Stablecoin issuers will now face stringent requirements including monthly disclosures and full asset backing. Senator Bill Hagerty, the bill''s sponsor, hailed it as a transformative moment for US financial infrastructure, emphasizing its potential to enable faster, cheaper payments.

The legislation now moves to the House, where lawmakers have been crafting parallel proposals. If reconciled and passed, it could reach President Trump''s desk before the August recess—aligning with his administration''s push for clearer crypto regulations.