WASHINGTON (AP) — The Senate has passed legislation that would regulate a form of cryptocurrency known as stablecoins. It is the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers following its heavy spending in last year’s election. The bill advanced through the Senate by a 68-30 bipartisan vote, but some Democrats have raised concerns it does little to address Republican President Donald Trump’s personal interests in crypto. Known as the GENIUS Act, the bill would establish guardrails and consumer protections for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. The bill will now head to the House for potential revisions.
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