#DOGS# The U.S. Senate passes the stablecoin regulatory bill, and the House faces pressure.

The U.S. Senate recently passed a landmark stablecoin regulation bill, marking the first time the Senate has approved significant cryptocurrency legislation. The bill advances the federal government's efforts to regulate stablecoins while also exerting pressure on the House of Representatives to plan the next phase of national regulation of digital assets.
The legislation titled "GENIUS Act" was initiated by Republican Senator Bill Hagerty. Before the official vote, Hagerty expressed gratitude to some of his Senator colleagues who supported the bill. It is noteworthy that the bill was passed with an overwhelming majority less than a week ago, and most expect it to pass smoothly.
Next, the House needs to decide how to advance the relevant legislation. In April of this year, the House Financial Services Committee proposed its own stablecoin bill, the "Stablecoin Transparency and Accountability Act to Promote a Better Ledger Economy."