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.

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

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.

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 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.

The GENIUS Act "makes it prohibitive for non-financial public companies to become stablecoin issuers," Bernstein said, noting recent reports that said Amazon and Walmart were exploring using these cryptocurrencies.

Opinion: Orrick's Nathaniel Reisenburg, Joseph Perkins, and Ignacio Sandoval write that the House's stablecoin legislation leaves too much room for state regulators to create barriers of their own.