The U.S. Senate passed the stablecoin "GENIUS Act", focusing attention on the House of Representatives.

[U.S. Senate Passes Stablecoin “GENIUS Act,” Focus Shifts to House] The U.S. Senate passed the milestone “GENIUS Act” on Tuesday, advancing the federal government’s regulatory efforts on stablecoins and putting pressure on the House to plan the next phase of the nation’s regulatory efforts on digital assets. This is the first time the Senate has passed significant cryptocurrency legislation. The sponsor of the GENIUS Act, Republican Senator Bill Hagerty, thanked some of his fellow senators for their support before the official vote. Less than a week ago, lawmakers voted overwhelmingly in favor of the bill, and many expected it to pass. Next, the House needs to decide how to proceed. In April of this year, the House Financial Services Committee proposed its own stablecoin legislation—the “Stablecoin Transparency and Accountability Promotion for Better Ledger Economy Act.” However, this bill has not yet been submitted for a full House vote.