Senate passed legislation to regulate stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy
The Senate passed legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers.
The fast-moving legislation, which passed by a 68-30 vote and will be sent to the House for potential revisions, comes on the heels of a 2024 campaign cycle in which the crypto industry ranked among the top political spenders in the country, underscoring its growing influence in Washington and beyond.