The vote on the GENIUS Act, which would set up a regulatory framework for stablecoins, came two weeks after Senate Democrats blocked the measure.

The Senate took a key procedural vote Monday evening on a first-of-its-kind crypto regulation bill after Democrats tanked it earlier this month.

The Senate voted 66-32 Monday evening to advance first-of-its-kind legislation to regulate “stablecoins,” a kind of cryptocurrency. Democrats had initially voted to block the bill earlier this month amid concerns over President Donald Trump’s cryptocurrency deals.

The cryptocurrency industry spent millions of dollars in recent elections, influencing crypto legislation and political power in upcoming 2026 elections.

Regulating stablecoin has been a top priority for President Trump, but his personal crypto involvement has complicated the Congressional process.

After US policymakers advanced a key Senate crypto bill, which are the best crypto to buy now for parabolic gains?

While the crypto industry celebrates a win, some Democrats are calling to end the president's crypto projects altogether.

The Senate voted to move forward with consideration of legislation to create a regulatory framework for payment stablecoins Monday night, bringing the key crypto bill one step closer to final

The vote, a procedural step needed to begin debate on the GENIUS Act, represents a major victory for the cryptocurrency industry.

Stablecoin and market structure bills are the two big things around crypto that Congress is expected to get to President Donald Trump's desk this year. There was a press conference by crypto and AI czar David Sacks with the chairs of the House and Senate committees. Everyone had this rough deadline of "before the August recess."

Democrats who had sided with the rest of their party last week to block the measure over concerns that President Trump could benefit dropped their objections. They argued that regulating the industry was urgent.

The stablecoin bill passed a key procedural vote, finally, but it was a heavy lift engineered in the 11th hour Monday night by the bill’s sponsor, Tennessee GOP Sen. Bill Hagerty.