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Senate Passes Crypto Bill ‘Genius Act’ in Bipartisan Vote

Sen. Cynthia Lummis said she is ‘excited about the momentum’ in Washington over cryptocurrency.
Senate Passes Crypto Bill ‘Genius Act’ in Bipartisan Vote
A gold plated souvenir cryptocurrency Tether (USDT) coin arranged beside a screen displaying U.S. dollar notes in an illustration picture taken in London on May 8, 2022. Justin Tallis/AFP via Getty Images
Andrew Moran
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Nathan Worcester
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The Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, commonly known as the Genius Act, on June 17, marking a significant step in cryptocurrency regulation.

In a rare glimpse of bipartisan support in the upper chamber, senators voted 68 to 30 in favor of the bill.

Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."