The GENIUS Act is a proposed bill that regulates one type of cryptocurrency called stablecoins, a $200 billion part of the multi-trillion-dollar cryptocurrency system. The bill’s name stands for Guiding and Establishing National Innovation for U.

The GENIUS Act, a stablecoin regulation bill in the United States Senate, faces a key vote on June 17, and industry stakeholders are weighing in on what it means if it passes.

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.

On June 17, the U.S. Senate approved the GENIUS Act by a 68-30 vote, marking the first major cryptocurrency bill to pass the Senate. With backing from some Democrats, Republican Senator Bill Hagerty led the bill through the Senate on Tuesday.

Every action is powered by ether," Etherealize's founder, Vivek Raman, argues as institutional adoption of Ethereum accelerates amid the stablecoin boom.

By Manya Saini (Reuters) -As the U.S. stablecoin bill, known as the GENIUS Act, advances in the Senate, a once-niche corner of the crypto industry is gaining rapid traction among global corporates. Stablecoins,

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

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.

As the U.S. stablecoin bill, known as the GENIUS Act, advances in the Senate, a once-niche corner of the crypto industry is gaining rapid traction among global corporates.