The Senate voted 66–22 to advance the GENIUS Act, showing strong support from both Democrats and Republicans and signaling that the U.S. government is finally ready to take crypto regulation seriously. The Act still raises concerns about whether it goes too far or not far enough in protecting consumers and whether it will hurt innovation.

The U.S. Senate is moving ahead with regulating the new stablecoin industry with the progress of the GENIUS Act.

The Genius Act broke through opposition from Democrats in the Senate on Monday evening, moving the key piece of stablecoin legislation forward.

The passage of a U.S. stablecoin bill could be one of the most important regulatory developments in the history of crypto, the report said.

The U.S. Senate has passed the GENIUS Act, making regulated stablecoins a policy priority and hinting at fresh institutional crypto inflows.

Bitcoin ( BTC 4.39%) set a new all-time high today, topping $111,000 for the first time ever. After reaching a previous all-time high in December 2024, Bitcoin declined roughly 30%, leading many to believe the bull run that saw it nearly double from September through December was over. However, in the last month, Bitcoin is up nearly 50%.

A Republican senator insisted that efforts to make the U.S. the "crypto capital of the world" have positive implications for all Americans.

Top Senate Democrats aren't relenting in their push to add guardrails for President Trump and others to landmark cryptocurrency legislation, Axios has learned. Why it matters: 18 Democrats voted earlier this week to advance the bill.