The US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar, in a landmark win for the ascendant crypto industry and President Donald Trump.The 68-30 vote on Tuesday evening marked a rare moment of bipartisanship in the deeply divided Senate,

The Senate is voting on legislation regulating a form of cryptocurrency called stablecoins. The bill is the first in what’s expected to be a wave of crypto-friendly legislation in Congress following the industry’s heavy spending in last year’s election.

The U.S. Senate passed the Donald Trump-backed stablecoin bill on Tuesday, a significant victory for the crypto industry, which donated millions of dollars to the 2024 presidential election. The so-called ‘Genius Act’ will regulate stablecoin digital assets,