The U.S. GENIUS Act, advancing in the Senate, could drive broader adoption of stablecoins by offering regulatory clarity. Major firms such as Bank of America, Morgan Stanley, and international banks are exploring launching their own stablecoins.

In a significant development for the digital asset industry, the US Senate on Tuesday passed a bill aimed at creating a comprehensive regulatory framework for US dollar-pegged cryptocurrency tokens, commonly known as stablecoins.

The US Senate has passed the GENIUS Act, a first-of-its-kind crypto legislation targeting the booming stablecoin market. With 68 votes

The Senate is poised to pass the GENIUS Act regulating stablecoins, a key form of cryptocurrency, aiming to increase legitimacy and consumer confidence. The bipartisan bill faces criticism for not addressing President Trump's financial involvement in crypto.

The GENIUS Act (S. 1582), legislation that aims to provide regulatory clarity for stablecoins, is expected to head to a floor vote in the US Senate tomorrow.

US could be the epicenter for stablecoins with the proposed GENIUS Act, making them a mainstream financial rail for the internet, says Bernstein.

Stablecoins are the focus of the GENIUS Act, but if the bill is enacted into law, it will likely have an impact on U.S. citizens’ ability to use Bitcoin privately. While the GENIUS Act is a stablecoin bill, U.S.-based Bitcoin enthusiasts should be paying ...