On Tuesday, the U.S. Senate passed the Genius Act, a bill that aims to set clear guidelines for stablecoin issuers and address some critical needs of the digital assets industry, teeing up a vote ...

Senate passes landmark stablecoin bill. Jun. 18, 2025 3:32 AM ET USCoin USD (USDC-USD) Crypto, USDT-USD Crypto, CRCL Stock By: Jessica Kuruthukulangara, SA News Editor 16 Comments.

Senate passes GENIUS stablecoin bill, ... The bill passed with a 68-30 vote. It's a milestone day for the crypto industry and for President Donald Trump's sprawling digital asset empire.

Democrats have also raised concerns that the legislation opens the door for major corporations to issue their own private cryptocurrencies.

The GENIUS Act, which will give the green light to banks interested in stablecoins, but which has also raised fears that it will disintermediate the banking system, will go straight to President Donald Trump's desk once it passes the full House vote later today.

The bipartisan legislation, which passed the Senate in June and is likely to be voted on by the House this week, is the first-ever piece of stablecoin regulation. It would allow private entities to issue their own stablecoins, as long as they are fully backed by U.S. Treasuries. That will open the Treasury up to a whole new set of investors.