Senator Ruben Gallego, a Democrat from Arizona, voted with Republicans to advance the GENIUS Act, a significant bill supported by the cryptocurrency industry. This decision underscores a growing bipartisan collaboration on crypto legislation. Gallego, who has benefited from substantial donations from crypto super PACs during his Senate race, acknowledged the permanence of digital assets. The vote was preliminary, but it marks a significant win for an industry grappling with regulatory challenges and public skepticism due to its history of instability.
Senator Ruben Gallego's vote to advance the GENIUS Act highlights a growing bipartisan support for cryptocurrency legislation, an industry that continues to influence Congress significantly.
In a significant turn, Senator Gallego expressed that digital assets are here to stay, positioning the GENIUS Act as a critical step toward advancing crypto regulations.
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