WASHINGTON (AP) — The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers.

The U.S. Senate may soon pass the GENIUS act, a bill to regulate stablecoins. Here's what that could mean for the future of asset-backed cryptocurrencies.