The bill’s co-sponsors are feeling confident the bill will now head towards a final vote in the Senate as soon next week. According to crypto analysts, including Fundstrat’s Sean Farrell, that could spark another massive Bitcoin rally.

The U.S. Senate voted to move ahead on stablecoin legislation Monday night, removing a procedural barrier to ultimately passing the bill out of the body entirely.

Stablecoin legislation advanced on the Senate floor Monday in an early win for the crypto industry, but the bill is expected to face a lengthy amendment process that will likely push a final vote