According to TechFlow, on June 18, Politico reported that the U.S. Senate passed the GENIUS Act on Tuesday with a vote of 68 in favor and 30 against. This is the first comprehensive regulatory reform bill in the U.S. targeting cryptocurrencies. The bill, led by Republican Senator Bill Hagerty from Tennessee, will establish a regulatory framework for stablecoins pegged to the U.S. dollar, marking a significant legislative breakthrough for the digital asset industry. The bill was supported by 18 Democratic senators along with a majority of Republicans and will now be submitted to the House of Representatives for further review.