The Senate passed legislation to establish the first regulatory framework for stablecoins, capping prolonged, topsy-turvy bipartisan negotiations. Why it matters: The GENIUS Act, which was nearly derailed when Democrats had an internal blowup about President Trump's growing cryptocurrency empire,

A majority of lawmakers in the US Senate voted in favor of the GENIUS Act to regulate stablecoins, marking a significant milestone for crypto-related legislation.

Today, on a bipartisan basis, the Senate passed its first piece of major legislation this Congress with my bill—the GENIUS Act,” said Senator Hagerty. “With