What to know about the GENIUS Act, a crypto regulation bill
The Senate voted 66-22 late Monday to advance the GENIUS Act, a bill that aims to regulate some cryptocurrencies. The bill faced some Democratic opposition in recent weeks over President Donald Trump’s cryptocurrency ventures, but it ultimately garnered support from 16 Democrats, including Sen. Cory Booker, D-N.J., and Sen. Adam Schiff, D-Calif. The industry-backed measure establishes rules targeting stablecoins, a type of cryptocurrency pegged to the value of another asset, often the U.S. dollar.