Still, the bill is considered a major win for the crypto industry. The industry-backed bill would help protect consumers and set industry standards that could allow stablecoins to become mainstream for digital payments and other financial instruments, advocates say.

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.

Sen. Roger Marshall (R-KS) is gauging support for a bill that reins in credit card swipe fees, though he has not requested a vote as part of a major piece of banking legislation.

In a rare occurrence, which may only last for a week, Democrats in the Senate showed some spine and voted down an important procedural vote on the GENIUS Act, a bill that would establish a (very weak) regulatory framework for the use of stablecoins.

Senator Elizabeth Warren slammed the GENIUS Act in a fiery speech on the Senate floor on Monday, citing risks to financial security.

Justin Sun — who owns $19 million worth of President Trump's meme coin — will attend a dinner with the president, after regulators paused a Biden-era lawsuit against Sun.

Key Takeaways The GENIUS Act, a bill to regulate stablecoins, passed with a divided vote among Democrats, reflecting concerns about corruption and financial sta

The GENIUS Act advanced in the Senate with a 66-32 vote after 16 Democrats changed their position. The bill had previously failed amid criticism that