The Senate is poised to pass a bill to regulate stablecoins, the lifeblood of the crypto market, awarding the industry a victory it has sought for years. The industry’s bigger goals will be harder to achieve,

WASHINGTON (AP) — The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers.

The House is out for a Juneteenth recess this week, and the Senate will be working an abbreviated week with the goal of passing a bipartisan stablecoin regulation bill on Tuesday. The Senate voted 67-27 to invoke cloture and end debate on the bill June 12,