The Senate should pass the Stablecoin Genius Act

On Feb. 4, a bipartisan group of U.S. senators introduced the Guiding and Establishing National Innovation for U.S. Stablecoins, Genius Act. Earlier this week, the United States Senate voted to move forward on this important piece of legislation. If passed out of Congress and then signed by President Donald Trump into law, it will benefit all Americans.

By this procedural vote, the Senate also demonstrated that important legislation can be passed when members of Congress compromise on competing interests. The 66-32 procedural vote was necessary to overcome the Senate filibuster rule, which requires 60 votes for passage. There is no filibuster rule in the House of Representatives.