Senate Crypto Legislation Approved: The US GENIUS Act Has Completely Transformed the Landscape for Stablecoins
Following months of posturing, confrontations, and behind-the-scenes revisions, the Senate’s crypto asset legislation has been approved, known as the GENIUS Act. This represents the initial genuine effort toward a regulatory framework for stablecoins.
The final tally stood at 68 to 30, showcasing a rare demonstration of bipartisan strength in a body that has recently been more known for inaction. For the cryptocurrency space, this is a clear sign that serious figures are finally taking notice.
Some members of crypto Twitter argue that this effectively codifies the use of Chainlink’s proof of reserve into law. While that’s not entirely accurate, numerous altcoins will reap the rewards; here’s what you need to be aware of:
Senate Crypto Legislation Passes: Implications of the GENIUS Act and Crypto Senate for Stablecoins
Stablecoins are no longer the neglected relative of finance. With the GENIUS Act, the Senate has just provided developers with a playbook for their issuance, underlying reserves, and enforcement of their transparency.
This aims to bring some structure to one of the most unpredictable sectors of crypto.
However, the bill nearly unraveled due to pressure from the left. Senator Elizabeth Warren from Massachusetts led a last-minute protest, cautioning that the legislation was imprecise regarding fraud prevention, particularly those related to Trump’s crypto endeavors. Nevertheless, Senator Gillibrand maintained her composure, making calls behind the scenes until they secured enough votes.
The U.S. Senate has officially passed the GENIUS Act, a historic piece of legislation that establishes a regulatory framework for fiat-backed stablecoins.
This marks a pivotal moment for the digital asset sector, paving the way for the worldwide growth of stablecoins.… pic.twitter.com/g8Ydwuo1hW
— Chainlink (@chainlink) June 17, 2025
For the industry, this act represents a major victory. By providing stablecoin initiatives with a clear regulation structure, it addresses a long-standing issue.
The outcome might be a closer relationship between the digital currency industry and institutional investors seeking regulatory clarity.
ETH Rises as Crypto Senate Discussions Establish Regulatory Transparency
In light of all the attention on stablecoins in the GENIUS Act, ETH is quietly racking up significant gains. The arrival of this bill, coupled with increasing institutional interest, is transforming how ETH ▼-1.51% is perceived by serious capital.
“Up until now, Ethereum’s importance was underestimated,” remarked Vivek Raman, head of the Ethereum-centric group Etherealize.
However, with regulators finally defining the rules of engagement, Ethereum’s status as the foundation of tokenized finance is becoming increasingly undeniable. From supporting stablecoins to facilitating smart contract transactions, Ethereum stands to gain significantly from the GENIUS Act.
Significance of Regulatory Clarity
After countless years of political posturing and jurisdictional conflicts among regulators, the GENIUS Act offers what crypto has desperately needed: assurance. Not solely for stablecoins but for ETH, Chainlink, and the broader ecosystem.
Nevertheless, it’s still early in the process. Legislators have merely begun to delve into these issues.
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Key Takeaways
- After months of posturing, confrontations, and behind-the-scenes edits, the Senate crypto bill has been approved.
- For the industry, this act represents a significant victory.
The post Senate Crypto Bill Passed: The US GENIUS Act Just Changed Everything For Stablecoins appeared first on 99Bitcoins.
