Senate Advances Landmark Cryptocurrency Bill with Strong Bipartisan Support – Coincu

On May 20, 2025, the Senate took a significant step by advancing a cryptocurrency bill with a 66-32 vote in Washington. The legislation targets establishing a regulatory framework for stablecoins.

The bill could influence the U.S. crypto market’s stability and legitimacy, drawing attention from industry stakeholders. Bipartisan support reflects growing consensus on regulation’s necessity.

Senate Backs Stablecoin Framework with 66-32 Vote

The Senate’s approval marks notable progress in advancing a stablecoin regulatory framework, backed by strong bipartisan support, including 16 Democrats. Led by Senator Bill Hagerty, the effort builds on Congress’s years-long proposals to address digital asset regulation. Senator Hagerty commented, “The advancement of this bill is a major win for the crypto industry, which has lobbied Congress for years to pass legislation that would help legitimize digital assets.”

The bill proposes a framework for stablecoins pegged to the dollar, potentially influencing issuers and trading platforms. This could alter the U.S.’s digital asset landscape by providing legal clarity and encouraging broader adoption of cryptocurrencies.

Industry leaders have welcomed the Senate’s decision, highlighting the legislation’s potential to foster market stability. Multiple government and industry stakeholders have expressed optimism, calling for further exploration of crypto’s regulatory needs.

Expert Analysis and Market Reaction to Legislative Progress

Did you know? The Senate’s crypto legislation reflects years of industry advocacy for regulatory clarity, marking a vital shift in U.S. digital asset policy.

Ethereum’s current price is $2,557.45, with a market cap of approximately formatNumber(308750671206, 2). ETH’s 24-hour trading volume decreased by 49.19%, as per CoinMarketCap. Recent price changes over 30 days show a 44.05% increase, with a 3.01% rise over the past week.

Coincu’s research team suggests a positive outlook for crypto. The legislation may bolster regulatory stability, potentially leading to increased institutional adoption and technological advancements. Industry trends support growing demands for secure crypto transaction frameworks.