The Senate voted 66-32 Monday evening to advance first-of-its-kind legislation to regulate “stablecoins,” a kind of cryptocurrency. Democrats had initially voted to block the bill earlier this month amid concerns over President Donald Trump’s cryptocurrency deals.

The cryptocurrency industry spent millions of dollars in recent elections, influencing crypto legislation and political power in upcoming 2026 elections.

U.S. Treasury eyes crypto expansion with strict AML rules as Senate backs stablecoin bill and Trump rallies support for digital asset leadership.

As people began arriving for the event, the price of $TRUMP dropped suddenly by about 6%, indicating a significant sales volume, before stabilizing.

The stablecoin bill passed a key procedural vote, finally, but it was a heavy lift engineered in the 11th hour Monday night by the bill’s sponsor, Tennessee GOP Sen. Bill Hagerty.

The US Senate just advanced the GENIUS Act while lawmakers reintroduce a key blockchain bill. On Byte-Sized Insight, Rashan Colbert of the Crypto Council for Innovation explains how these moves could reshape stablecoin regulation and crypto clarity in the US.

It seems like a triumph for a cryptocurrency industry that’s sought mainstream acceptance: Top investors in one of President Donald Trump’s crypto projects invited to dine with him at his luxury golf

The U.S. Senate is moving ahead with regulating the new stablecoin industry with the progress of the GENIUS Act.