Cryptocurrency Legislation Clears Senate Hurdle

Legislation that would create a regulatory framework for cryptocurrencies passed a procedural hurdle in the Senate Wednesday, moving one step closer to passage, Politico reported.

The Senate voted 68-30 to move forward on the GENIUS Act, with several changes made by Republicans to win over Democrats to cross the 60-vote threshold.

Sen. Bill Hagerty, R-Tenn., said the bill, which he proposed, “takes a common-sense, bipartisan approach to regulating stablecoins.”

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