The US Senate took the initial steps towards the final approval of its first important cryptographic legislation as the members opened the vote on Wednesday on the bill to establish standards for the EE. UU. UU emitters, cleaning the highest procedure obstacle with a result of 68-30.
At a time that will mark the greatest success of industry policy in the United States to date, the famous slow movement Senate is on the way to cleaning the legislation with broad bipartisan support. And as the cryptographic world observes the Senate to reverse what for a long time had been a resistant cryptographic position, the House of Representatives has also obtained a couple of key votes to advance the even more vital legislation for the industry: the law of clarity of the digital association market that would establish a complete set of rules that manage US supervision of crypto markets.
In the Senate, the National Innovation Law for National Innovation of the United States of 2025 (genius) is the very revised bill that had already obtained bipartisan approvals in multiple procedure votes and is now in what is expected to be an inevitable path on Wednesday. The Senate needed to clear the high bar of 60 votes to move on to the final vote, which was easily obtained since many Democrats joined the Republicans to move towards the regulation of Stablecoin.
The law project would establish a system under which Stablcoins can be issued in the United States under the surveillance of state or federal regulators, and leaving some ways for non -financial corporations to launch their own currencies (a critical point of the Democrats). The regulation of these assets is essential for the operations of encryption markets, in which tokens based on dollars such as Circle’s
and those tied are used routinely in transactions and contracts.
In the previous session of the Congress, what was then the Banking Committee of the Senate administered by the Democrats brought itself in the way to advance in cryptographic legislation, but its current Republican president, Senator Tim Scott of South Carolina, has become a cryptographic defender. The general feeling Pro-Crypto of the Chamber has been strengthened in this session and will be consolidated by Wednesday’s votes.
Before Wednesday’s vote, the sponsor of Genio Law, Senator Bill Hagerty, asked for support from his colleagues in the bill. “This would strengthen our fiscal position and consolidate the state of the dollar as the world reserve currency,” Hagerty argued. “If we do not act now, these benefits will not only slide, but we will also delay in global competitiveness without a regulatory framework. But Senator Elizabeth Warren, the democrat of classification in the Senate Banking Committee, led to the Senate’s floor to expel the act of genius.” The act of genius lacks the basic safeguards necessary to ensure that the stable currencies do not turn the entire financial system, “the Massachusets. Stablecoin emitters invest in risky assets and allows them that “they should show a bit of column” and insist that Republicans allow some of the amendments previously pressed by the Democrats.
When the Stablecoin bill is sent to the Chamber, that leaves a key decision in the hands of the leaders there, either to match the genius law with the effort of the market structure or to follow it as a direct vote on the version of the Senate or a more complex process of merging the language of the Senate with legislation that is already in the works in the Chamber. Whatever happens, the Chamber must match the approval of the Senate at some point before a Stablecoin bill can move to the president’s desk to sign.
Although the Genius law advanced, it followed a day of successes for the defenders of the Clarity Law in the Chamber, where this bill cleared the Financial Services Committee of the Chamber and the Committee of the Chamber of Representatives with great bipartisan votes on the same day on Tuesday.
Cryptographic lobbyists in Washington argue along with their allied legislators that both bills are necessary to properly regulate the industry in the United States.
