{"id":29825,"date":"2025-06-17T21:52:34","date_gmt":"2025-06-17T21:52:34","guid":{"rendered":"https:\/\/medexperts.pro\/?p=29825"},"modified":"2025-06-17T22:23:15","modified_gmt":"2025-06-17T22:23:15","slug":"senate-passes-cryptocurrency-bill-handing-industry-a-victory","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=29825","title":{"rendered":"Senate Passes Cryptocurrency Bill, Handing Industry a Victory"},"content":{"rendered":"
<\/div>\n

The bill was a significant step toward giving the cryptocurrency industry the credibility and legitimacy it has sought, without limitations it has worked to head off.<\/p>\n

\n
\n
\n

The Senate on Tuesday passed legislation to establish a regulatory framework for stablecoins, putting the cryptocurrency industry, which had long been viewed with suspicion by lawmakers in Washington, on the brink of a major policy breakthrough.<\/p>\n

Bipartisan approval of the bill, known as the GENIUS Act<\/a>, followed an aggressive lobbying campaign aimed at transforming the cryptocurrency industry\u2019s image from scandal-plagued experiment to legitimate financial sector.<\/p>\n

Senate passage came over the fierce objections of many Democrats, who warned that the measure lacked strict-enough regulations or oversight to prevent abuses, including anti-corruption rules that would bar President Trump and his family from continuing to profit from cryptocurrency<\/a>.<\/p>\n

The bill still must be passed by the House and signed by the president. But the 68-30 vote in the Senate marked the first time the chamber has approved major cryptocurrency legislation. It represented a significant step toward giving the industry what it has long sought from Washington: the credibility that comes with federal oversight.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n
\n
\n

Stablecoins, a type of digital currency tied to the value of the U.S. dollar, are often seen as comparatively reliable types of cryptocurrency. These cryptocurrencies are designed to avoid the wild fluctuations in value of some popular coins like Bitcoin, making them something of a bridge to the world of traditional currency.<\/p>\n

Senator Bill Hagerty, Republican of Tennessee and the bill\u2019s lead sponsor, said the legislation would be a significant step toward breaking down the barriers between traditional financial markets and decentralized markets. He said it would help bring the country\u2019s financial system into the modern era.<\/p>\n

\n
\n
<\/div>\n
\n
\n
\n

We are having trouble retrieving the article content.<\/p>\n

Please enable JavaScript in your browser settings.<\/p>\n<\/div>\n<\/div>\n

\n
\n

Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into<\/a>\u00a0your Times account, or\u00a0subscribe<\/a>\u00a0for all of The Times.<\/p>\n

\n<\/div>\n
\n
\n

Thank you for your patience while we verify access.<\/p>\n

Already a subscriber?\u00a0Log in<\/a>.<\/p>\n

Want all of The Times?\u00a0Subscribe<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

The bill was a significant step toward giving the cryptocurrency industry the credibility and legitimacy it has sought, without limitations it has worked to head off.The Senate on Tuesday passed legislation to establish a regulatory framework for stablecoins, putting the cryptocurrency industry, which had long been viewed with suspicion by lawmakers in Washington, on the brink of a major policy breakthrough.Bipartisan approval of the bill, known as the GENIUS Act, followed an aggressive lobbying campaign aimed at transforming the cryptocurrency industry\u2019s image from scandal-plagued experiment to legitimate financial sector.Senate passage came over the fierce objections of many Democrats, who warned that the measure lacked strict-enough regulations or oversight to prevent abuses, including anti-corruption rules that would bar President Trump and his family from continuing to profit from cryptocurrency.The bill still must be passed by the House and signed by the president. But the 68-30 vote in the Senate marked the first time the chamber has approved major cryptocurrency legislation. It represented a significant step toward giving the industry what it has long sought from Washington: the credibility that comes with federal oversight.Stablecoins, a type of digital currency tied to the value of the U.S. dollar, are often seen as comparatively reliable types of cryptocurrency. These cryptocurrencies are designed to avoid the wild fluctuations in value of some popular coins like Bitcoin, making them something of a bridge to the world of traditional currency.Senator Bill Hagerty, Republican of Tennessee and the bill\u2019s lead sponsor, said the legislation would be a significant step toward breaking down the barriers between traditional financial markets and decentralized markets. He said it would help bring the country\u2019s financial system into the modern era.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":29827,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-29825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/29825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29825"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/29825\/revisions"}],"predecessor-version":[{"id":29828,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/29825\/revisions\/29828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/29827"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}