The stablecoin bill passed a key procedural vote, finally, but it was a heavy lift engineered in the 11th hour Monday night by the bill’s sponsor, Tennessee GOP Sen. Bill Hagerty. He had to remind crypto-friendly Democrats what was at stake – and to ignore the politicization of the legislation by the crypto-hating Massachusetts Sen.

Several legislative and regulatory developments in the crypto space occurred this week. The U.S. Senate took a significant step forward on

The passage of a U.S. stablecoin bill could be one of the most important regulatory developments in the history of crypto, the report said.

The US Senate just advanced the GENIUS Act while lawmakers reintroduce a key blockchain bill. On Byte-Sized Insight, Rashan Colbert of the Crypto Council for Innovation explains how these moves could reshape stablecoin regulation and crypto clarity in the US.

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. The Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS) had previously been stalled due to opposition from Democratic lawmakers,

The GENIUS Act passed a cloture vote Monday less than two weeks after failing one. The stablecoin bill now heads to a full floor vote.

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

John Deaton, a prominent XRP lawyer, warns that the failure of the GENIUS Act in the Senate could halt meaningful progress in crypto regulation for years to come.