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The United States Senate Votes to Pass the "GENIUS Stablecoin Act"

6 hours ago

On June 18th. According to reports from Politico, the U.S. Senate passed the significant cryptocurrency legislation, the GENIUS Act, on Tuesday in the local time. The purpose of this is to promote the growth of the industry. This indicates a historic lobbying success for digital asset companies during the Senate's first-ever vote on comprehensive regulatory reforms for cryptocurrencies. The U.S. Senate approved the bill with a vote of 68 in favor and 30 against. Among them, 18 Democrats joined the majority of Republicans to support its advancement to the House of Representatives for review. Led by Republican Senator Bill Hagerty from Tennessee, the bill will for the first time establish a U.S. regulatory framework for stablecoins pegged to the value of the U.S. dollar.
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A trader incurred a loss of $238,700 while swing trading WBTC over the past 50 days.

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