The U.S. Congress passed the GENIUS Bill with a 308-122 vote, marking a significant shift in the regulatory approach towards cryptocurrencies. The bill, focused on stablecoins, received substantial bipartisan support and is considered a victory for the crypto industry and President Trump. His involvement was instrumental in overcoming objections from Republican lawmakers. The bill now awaits the president's signature after Senate approval. This development contrasts with the Biden administration's stricter regulatory policies and suggests more crypto legislation will follow, including efforts to clarify regulatory oversight and proposals against a digital dollar.
The House approved the GENIUS Bill with a 308-122 vote, adopting regulations for cryptocurrencies known as stablecoins that proponents believe will change the world of commerce.
President Trump's intervention was crucial to pass the GENIUS Bill after some Republican lawmakers objected, which required a long vote to clear procedural hurdles.
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