In 68–30 votes on Tuesday evening, the Senate passed the Genius Act with Bipartison support. Eighteen Democrats joined the Republican majority in passing the bill, which is the first to establish a federal regulatory framework for Stabelines, Crypto tokens that is assessed for the value of the US dollar.

Its path was not always assured. Back in May, nine Democrats who suddenly supported the Genius Act Reverse courseTo modify the lesson of the bill, and after days, Senator Elizabeth Warren (D-MA) and Ron Wayden (D-W) successfully Killed an attempt To bring the bill into a floor vote by quoting Many current events To include crypto undertakings of Trump family, including Controversial dinner For people in large quantities of your memecoin $ trump.

Warren, Ranking Member of the Senate Banking Committee and a long time Consumer Protection Hawk, finally voted against the final edition of the Genius Act. During the 11th floor speech, he said that the bill did not have enough regulatory railings to prevent corruption: “This would make Trump the regulator of his financial company and, significantly, the regulator of his rivals.”

This is a win, however, for the digital assets industry, which has hired hundreds of crores of people in the game of political influence in Washington and even some members of the Congress on their behalf. In an interview before Tuesday’s vote, Seth Hartline, head of the global policy at the Crypto Wallet Company Laser, described the Genius Act as a political bellweeder for the overall industry. “If the Genius Act comes out, everything comes out behind it,” he told that The verge