Senate passes stablecoin framework in major crypto milestone

The Senate on Tuesday passed legislation creating a regulatory framework for payment stablecoins in a major milestone for the crypto industry. 

Lawmakers voted 68-30 to pass the GENIUS Act, which seeks to establish rules of the road for the dollar-backed cryptocurrencies. It marks the first time that major crypto legislation has cleared the upper chamber. The bill now heads to the House. 

“With the GENIUS Act, we’re bringing clarity to a sector that’s been clouded by uncertainty and proving that bipartisan...