The GENIUS Act, the most important invoice that aspires to deliver readability to the stablecoin sector, has handed its first massive procedural hurdle.
Notably, 16 Democrats joined the Republicans on the vote. This reveals that crypto continues to be gaining bipartisan assist.
“Many steps to go, however a historic early win on the street to getting a stablecoin invoice enacted into regulation,” Faryar Shirzad, chief coverage at Coinbase, mentioned in a social media put up.
“Crypto is once more exhibiting that it’s the largest bipartisan problem in play on the Hill,” he mentioned.
Coinbase CEO Brian Armstrong has said that it’s “an enormous win for crypto.”
“An enormous win for crypto and the way forward for on-chain innovation in America! Thanks to all senators who voted for it,” he mentioned.