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

The stablecoin, initially for institutional investors, follows the launch of SG Forge’s euro stablecoin, EURCV.

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.

There is a “first of its kind” crypto bill making progress through the Senate that you’re going to be tempted to snooze on because a) it’s about “stablecoins,” which is a subcategory of crypto – a parallel financial system almost no one understands,

Sen. Elizabeth Warren (D-Mass.) is urging her colleagues to vote down updated stablecoin legislation, arguing it fails to sufficiently address concerns related to President Trump’s crypto ties and

The U.S. Senate is poised to try another high-stakes procedural vote to push stablecoin legislation forward, which could mark a major win for the crypto sector.

Without passage of a stablecoin bill, industry insiders say it will be next to impossible to push through a broader overhaul of the digital coin regulation that is also being planned.

Key Takeaways US Senate to Pass Stablecoin Legislation as regulatory clarity for stablecoins takes a step forward.Chinese Brand Invests in Bitcoin amid growing