The Senate passed a bill to regulate stablecoins June 17, marking a major step forward for one of two cryptocurrency bills Congress is working on. Lawmakers passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act, in a 68-30 vote, with 18 Democrats voting in favor of the mostly Republican-led legislation.

Two weeks after the House adopted a sprawling package of tax cuts, Senate Republicans on Monday unveiled their legislative vision proposing a series of tweaks that would primarily enhance the benefits provided to businesses.