In a groundbreaking move, the U.S. Senate passed the Guiding and Empowering National Innovation for U.S.
Stablecoins Act—better known as the GENIUS Act—on Tuesday, marking the chamber’s first-ever approval of significant cryptocurrency legislation.
The bill, sponsored by Republican Senator Bill Hagerty, aims to establish a federal framework for regulating stablecoins, a crucial step in addressing the fast-growing digital asset sector. While digital assets have long existed in a legal gray area, this legislation signals a turning point in Washington’s approach to crypto oversight.
Bipartisan Backing
The GENIUS Act secured support from several Democratic senators, enabling its successful passage through the chamber. Senator Hagerty publicly thanked his colleagues across the aisle, emphasizing the importance of collaboration in crafting policy for emerging technologies.
The vote follows last week’s bipartisan show of support when lawmakers overwhelmingly backed a motion to advance the legislation. This early momentum helped pave the way for Tuesday’s final passage.
Pressure Shifts to the House
Now that the Senate has acted, the spotlight turns to the House of Representatives, where lawmakers are expected to deliberate on the next steps. With the Senate taking a clear position, House leaders face growing pressure to align their own efforts and finalize a stablecoin regulatory structure.
If enacted, the GENIUS Act could provide the first consistent legal foundation for stablecoin issuance, risk management, and compliance in the United States—an area that has seen explosive growth with limited oversight.
Next Phase for U.S. Crypto Policy
The Senate’s passage of the GENIUS Act represents a milestone in federal crypto policy and highlights the increasing urgency among lawmakers to modernize financial regulations for the digital era. Whether the House will follow through remains the next crucial development in the U.S. crypto regulatory roadmap.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/senate-passes-genius-act-marking-first-major-u-s-crypto-regulation/