The Act still raises concerns about whether it goes too far or not far enough in protecting consumers and whether it will hurt innovation. Supporters say the bill will open doors

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

The Stablecoin bill, also known as GENIUS Act, is one step closer to becoming law, after the US Senate voted in favor of amending the bill.

The U.S. Senate voted 66–32 on Monday to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act

If passed into law, the GENIUS Act would establish the first comprehensive federal rules for stablecoin issuance, transparency, and reserve requirements.

While Bitcoin leads the current rally, Shunyet notes a measured outlook for the broader crypto market: “Ethereum and other large-cap digital assets are likely to benefit from Bitcoin’s momentum,” Shunyet added. “However, high interest rates and lingering macroeconomic uncertainty may limit upside potential for smaller altcoins in the near term.”

Sen. Bill Hagerty said recently that the GENIUS Act, which would pave the way for stablecoin adoption, could bolster U.S. Treasuries.

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

Sen. Lummis and state lawmakers work, across the aisle, to encourage innovation while protecting consumers who invest in one type of cryptocurrency, writes Sen. Rothfuss and Rep. Singh.

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