This is the first legislative victory for the digital asset industry, which put around $250 million in the 2024 election cycle.

The US Senate passed the GENIUS Act, a federal bill that puts crypto stablecoins under direct government control, after the crypto industry spent millions lobbying in last year’s elections. This legislation is now the first national law that forces stablecoin issuers to follow Treasury and law enforcement rules.

The U.S. Senate's passage of the GENIUS Act propelled Coinbase and Circle shares upwards, boosting stablecoin legitimacy. Bitcoin Pepe's presale surges.