U.S. Senate Advances Cryptocurrency Legislation

The Senate Banking Committee has passed the GENIUS Act, a significant bill establishing a regulatory framework for stablecoins. The legislation, which received bipartisan support, aims to legitimize the crypto sector and foster its growth. Amendments include regulatory reviews of stablecoin issuers and prioritizing customer claims in bankruptcy. This marks a shift in Washington's approach to cryptocurrency, with the full Senate set to debate the bill next