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. He had to remind crypto-friendly Democrats what was at stake – and to ignore the politicization of the legislation by the crypto-hating Massachusetts Sen.

The Senate voted 66–22 to advance the GENIUS Act, showing strong support from both Democrats and Republicans and signaling that the U.S. government is finally ready to take crypto regulation seriously. The Act still raises concerns about whether it goes too far or not far enough in protecting consumers and whether it will hurt innovation.

The Genius Act broke through opposition from Democrats in the Senate on Monday evening, moving the key piece of stablecoin legislation forward.

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

Major United States (US) banks, including JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, are eyeing a joint stablecoin venture amid a potential seismic shift in crypto regulations following the advancement of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in the Senate.

The U.S. Senate has passed the GENIUS Act, making regulated stablecoins a policy priority and hinting at fresh institutional crypto inflows.

A Republican senator insisted that efforts to make the U.S. the "crypto capital of the world" have positive implications for all Americans.

Top Senate Democrats aren't relenting in their push to add guardrails for President Trump and others to landmark cryptocurrency legislation, Axios has learned. Why it matters: 18 Democrats voted earlier this week to advance the bill.