GENIUS Act Clears First Major Hurdle, Signals Bipartisan Support for Stablecoin Regulation

The GENIUS Act, a landmark stablecoin regulation bill, has successfully passed its first major procedural vote in Congress, marking a pivotal step toward comprehensive stablecoin legislation in the U.S. Notably, 16 Democrats crossed the aisle to vote with Republicans, reflecting growing bipartisan consensus around digital asset policy.

This progress highlights crypto’s increasing influence on Capitol Hill. Faryar Shirzad, Chief Policy Officer at Coinbase, hailed the vote as “a historic early win” in the effort to regulate stablecoins. He emphasized that while many steps remain, the bill’s advancement demonstrates momentum behind crypto-friendly policy.

Coinbase CEO Brian Armstrong echoed that sentiment, calling the vote “a huge win for crypto and the future of on-chain innovation in America.” Armstrong expressed gratitude to the senators who supported the measure, reinforcing the industry’s push for regulatory clarity.

The GENIUS Act aims to bring legal structure and oversight to the stablecoin market—an area of growing concern for lawmakers amid the rapid expansion of blockchain-based financial services. The bill’s progress is seen as a positive signal for crypto investors, developers, and financial institutions seeking regulatory certainty in the U.S.

Industry observers note that this level of bipartisan cooperation is rare in Washington, making the GENIUS Act a standout issue. As stablecoins like USDC and USDT continue to play a vital role in digital finance, the success of this legislation could shape the future of crypto regulation in the United States.

With continued backing from key lawmakers and industry leaders, the GENIUS Act may become the foundational law that finally brings stablecoin activity under clear federal oversight.