Congress just passed a landmark stablecoin bill. 5 things to know about the booming corner of crypto.

US Capitol building in Washington, DC.

Getty Images

• The Senate passed the GENIUS Act this week, establishing a regulatory framework for stablecoins.
• Stablecoins have risen in popularity and could dramatically transform the payment space.
• Here's what you should know about this area of the crypto industry.

Wednesday marked a fresh milestone for the cryptocurrency industry, with the Senate passing the GENIUS Act to create a federal regulatory framework for stablecoins.