The U.S. Senate has moved forward with the GENIUS Act — a bill designed to regulate stablecoins — following a key vote on May 19 that passed 66-32.

A battle has erupted within the Senate Democratic Conference over a bipartisan bill that would pave the way for broader commercial acceptance of cryptocurrency assets known as stablecoins, which

Sen. Warren, the ranking member of the Banking Committee, is on the opposing side of the so-called GENIUS Act.

The Senate is poised to take up the Republican megabill after it narrowly passed in the House. But ongoing disputes and a slim majority mean more obstacles ahead.

One of the thorniest issues in negotiations had been how much to raise the state and local tax deduction, now capped at $10,000. That’s been a priority of New York lawmakers. Th