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. He had to remind crypto-friendly Democrats what was at stake – and to ignore the politicization of the legislation by the crypto-hating Massachusetts Sen.

Several legislative and regulatory developments in the crypto space occurred this week. The U.S. Senate took a significant step forward on

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

Crypto regulation has faced upheaval after a judge blocked the SEC-Ripple settlement, and the Senate advanced stablecoin legislation.

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

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

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