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

The GENIUS Act was introduced by Senators Bill Hagerty (R-Tenn.), Kirsten Gillibrand (D-N.Y.), Cynthia Lummis (R-Wyo.), and Angela Alsobrooks (D-Md.).

The United States Senate Banking Committee voted to advance the GENIUS stablecoin bill on March 13 — the first step in a comprehensive regulatory framework.

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,

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