The U.S. Senate has moved closer to final approval of the GENIUS Act, which aims to regulate stablecoin issuers, passing a significant vote with bipartisan support. Concurrently, the House of Representatives is advancing the Digital Asset Market Clarity Act, establishing a framework for crypto market oversight. Both legislative efforts signify a major shift in U.S. crypto policy, addressing the need for regulation amidst growing market activity.

The U.S. House of Representatives has voted to advance the GENIUS bill, which aims to establish a regulatory framework for stablecoins, alongside the Digital Asset Market Clarity Act for broader crypto regulation. The vote came after a contentious procedural week, and the bills could be heading to President Trump's desk soon. No Democrats supported the measures, with concerns raised about potential overreach and privacy implications.

President Donald Trump signed the GENIUS Act into law, establishing the first major regulatory framework for stablecoins in the U.S. The bipartisan support for the legislation signals a significant shift in the crypto industry's relationship with Washington, aiming to set clear rules for stablecoin issuers and pave the way for broader crypto regulation.

The U.S. Senate is set to vote on the GENIUS Act, a significant stablecoin legislation requiring bipartisan support amid tensions between Democrats and Republicans. The bill aims to ensure stablecoins are fully backed by U.S. dollars and short-term Treasury assets, but faces opposition from within both parties regarding its provisions and implications.

President Donald Trump intervened to help resolve a procedural snag in Congress regarding significant cryptocurrency legislation, which could greatly benefit the digital assets sector. A failed vote in the House had previously caused a decline in crypto firm shares, but Trump is now working with lawmakers to ensure the bills move forward.