The Senate Banking Committee voted Thursday to advanced legislation to create a regulatory framework for payment stablecoins. The movement on the GENIUS Act marks a key win for the Trump administration and Republican lawmakers,

The first committee approval of a stablecoin bill in this new congressional session now moves the so-called GENIUS Act toward the Senate floor.

The Senate Banking Committee advanced landmark stablecoin legislation Thursday in a major victory for the ascendant cryptocurrency industry, despite strong objections from top Democrat Elizabeth Warren.

The Senate Banking Committee Thursday voted to send a stablecoin bill to the full chamber for debate. Why it matters: The committee markup on the GENIUS Act was a key step in advancing a stablecoin bill,