Crypto News Update – Senate Advances GENIUS Act Powered by OrangeBrickRoad.com.auThe U.S. Senate has taken a major step toward regulating stablecoins by passing the GENIUS Act—the first-ever comprehensive crypto bill to clear the chamber.
What it does: The GENIUS Act establishes a federal framework for U.S. dollar–pegged stablecoins, requiring full backing with cash or U.S. Treasuries, monthly reserve disclosures, regular audits, and compliance with anti-money laundering rules
- Bipartisan support: It passed with a 68–30 vote, backed by Republicans and 18 Democrats, showing strong cross-party momentum
- Why it matters: This marks a historic milestone—crypto legislation has gained real traction in Congress. With clear rules, institutions can deploy stablecoin-based strategies with greater confidence
- What’s next: The bill now heads to the House for review during “Crypto Week,” where it’ll be voted on alongside the CLARITY Act and Anti-CBDC Act
- Market impact: The news sparked major upside in crypto markets—Bitcoin surged to $120K+, Ethereum jumped 8%, and stablecoin-linked equities like Circle and Coinbase rallied
🎯 Bottom Line:The Senate’s passage of the GENIUS Act signals Washington is finally taking meaningful regulatory action on crypto. This clarity could unlock stablecoin innovation, institutional investment, and mainstream growth.
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