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.

The Senate voted 66–22 to advance the GENIUS Act, showing strong support from both Democrats and Republicans and signaling that the U.S. government is finally ready to take crypto regulation seriously. The Act still raises concerns about whether it goes too far or not far enough in protecting consumers and whether it will hurt innovation.

The Genius Act broke through opposition from Democrats in the Senate on Monday evening, moving the key piece of stablecoin legislation forward.

The U.S. Senate is moving ahead with regulating the new stablecoin industry with the progress of the GENIUS Act.

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.

The U.S. Senate has passed the GENIUS Act, making regulated stablecoins a policy priority and hinting at fresh institutional crypto inflows.

The cryptocurrency has been on a months-long tear thanks to the pro-crypto Trump administration and April's tariff chaos.

A Republican senator insisted that efforts to make the U.S. the "crypto capital of the world" have positive implications for all Americans.