Senate Crypto Bill Passes Key Vote, GENIUS Act Moves Toward Final Passage

The Senate voted in favor of advancing the GENIUS Act, also known as the stablecoin bill, Monday night, overcoming a key procedural hurdle and paving the way for the bill’s final passage.

What Happened: The Senate managed to exceed the three-fifths majority, or the 60-vote threshold, required to invoke cloture and end debate. This action is intended to usher the legislation into a period of extended debate prior to a series of final votes that will determine its passage out of the Senate.

Senator Bill Hagerty (R-Tenn.), the bill sponsor, deemed the development as “groundbreaking,” stating that it would ensure the U.S. …

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