The U.S. Senate has passed a landmark stablecoin bill.

Golden Ten Data, June 18, according to Politico, on Tuesday local time, the U.S. Senate passed landmark cryptocurrency legislation aimed at promoting the growth of the industry. This is a historic lobbying victory for a digital asset company in its first Senate vote on comprehensive regulatory reform of cryptocurrencies. The Senate passed the bill with 68 votes in favor and 30 against, and 18 Democrats, along with a majority of Republicans, supported its introduction to the House of Representatives. The bill, led by Senator Bill Haggerty, Republican of Tennessee, would establish a U.S. regulatory framework for stablecoins pegged to the value of the U.S. dollar for the first time. The vote follows months of intense negotiations between Republican supporters of the bill and a group of crypto-friendly Democratic senators. Republicans will need to enlist the support of these Democrats to meet the 60-vote threshold needed to pass the bill.