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US Senate passes stablecoin bill in milestone for crypto industry
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The US Senate on Tuesday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, in a watershed moment for the digital asset industry.
The bill, dubbed the GENIUS Act, received bipartisan support, with several Democrats joining most Republicans to back the proposed federal rules. It passed 68-30. The House of Representatives, which is controlled by Republicans, needs to pass its version of the bill before it heads to President Donald Trump’s desk for approval.
“It is a major milestone,” said…
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