Senate Passes GENIUS Act as JPMorgan Engages SEC on Blockchain Adoption

The U.S. Senate approved the GENIUS Act with a 68-30 vote, establishing the first federal regulatory framework for stablecoins. The bipartisan legislation enables private companies to issue digital dollar tokens backed by traditional assets. Eighteen Democrats crossed party lines to support the bill, though Senator Elizabeth Warren opposed the final version, citing insufficient consumer protections.

Concurrently, JPMorgan executives met with the SEC''s crypto Task Force to discuss migrating capital markets to blockchain infrastructure. The discussions focused on risk assessment and regulatory alignment as traditional finance institutions explore onchain solutions. This dual development signals growing institutional acceptance of digital asset infrastructure at both legislative and corporate levels.