Senate Passes Stablecoin Bill in 68-30 Vote Despite Warren’s Warning of “Massive Financial Crisis”

Description

The Genius Act, a set of new regulations for stablecoins , passed the Senate with a 68-30 vote in favour of the crypto legislation. The Genius Act received enough bipartisan support to pass the Senate and reach the next round of scrutiny. Eighteen Democrats joined the Republicans to vote for the bill. Stablecoins are digital assets pegged to real-world assets such as the US dollar. The crypto industry has witnessed a strange turn of events, from experiencing a draconian ‘war on crypto’ under the...