{"id":2448598,"date":"2025-06-17T19:37:55","date_gmt":"2025-06-17T23:37:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-passes-landmark-cryptocurrency-bill-with-democratic-help\/"},"modified":"2025-06-17T19:41:07","modified_gmt":"2025-06-17T23:41:07","slug":"senate-passes-landmark-cryptocurrency-bill-with-democratic-help","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-passes-landmark-cryptocurrency-bill-with-democratic-help\/","title":{"rendered":"Senate passes landmark cryptocurrency bill with Democratic help"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsenate-passes-landmark-cryptocurrency-bill-with-democratic-help%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2448598&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Senate recently passed the GENIUS Act, a landmark cryptocurrency bill designed to create a regulatory framework for stablecoins, wich are digital assets pegged to the dollar. this <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/florida-bill-extending-death-penalty-to-child-rapists-goes-into-effect\/\" title=\"Florida&#039;s new law expands death penalty to child rapists.\">legislation received bipartisan support<\/a>, with 18 Democrats joining nearly all Republicans in a 68-30 vote, marking critically important progress for integrating cryptocurrency into the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-releases-framework-to-regulate-cryptocurrency\/\" title=\"Biden Releases Framework to Regulate ...\">mainstream financial system<\/a>. <\/p>\n<p>Though initially facing challenges and delays due to partisan divisions and internal negotiations, the act&#8217;s passage is viewed as a victory for the cryptocurrency industry, which advocated heavily for this legislation. Key sponsors of the bill, including Senators kirsten Gillibrand, Bill Hagerty, and cynthia Lummis, remain focused on advancing further regulations, including a broader initiative called the CLARITY Act. <\/p>\n<p>While the bill&#8217;s supporters celebrated its success,critics expressed concerns about potential weaknesses in consumer protections and financial safeguards. Additionally, the legislation&#8217;s future may involve additional negotiations with the House to consolidate it with other cryptocurrency measures before it can reach President Donald Trump&#8217;s desk.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Senate passes landmark cryptocurrency bill with Democratic help<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2150601\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/senate\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Senate<\/a> passed a first-of-its-kind <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/cryptocurrency\/\" target=\"_blank\" rel=\"noopener\" title=\"\">cryptocurrency<\/a> bill Tuesday as a bloc of industry-friendly Democrats bucked their party to overcome weeks of legislative gridlock.<\/p>\n<p>The GENIUS Act, which creates a regulatory framework for stablecoins, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/crypto-builds-its-2026-war-chest-washington-examiner\/\" title=\"Crypto builds its 2026 war chest ... Washington Examiner\">digital asset pegged<\/a> to the dollar, earned the support of 18 Democrats and nearly all Republicans in a 68-30 vote that brings cryptocurrency one step closer to the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/finance-and-banking\/\" target=\"_blank\" rel=\"noopener\" title=\"\">financial system&rsquo;s<\/a> mainstream.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3444880\/democrats-snub-senate-biden-hearing-health-cover-up\/\">Democrats to snub Senate GOP hearing on Biden mental decline &lsquo;cover-up&#8217;<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3444889\/alex-padilla-senate-speech-trump-tyrant-defends-disrupting-kristi-noem\/\">Padilla defends disrupting Noem, warns of &#8216;tyrant&#8217; in the White House in Senate speech<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3444646\/sean-spicer-testify-senate-gop-hearing-biden-fitness\/\">Sean Spicer to testify in Senate GOP hearing on Biden&#8217;s fitness to serve<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>Just two Republicans, Sens. Rand Paul (R-KY) and Josh Hawley (R-MO), voted against the bill.<\/p>\n<p>For weeks, the legislation seemed on a glide path to passage after advancing out of the Senate Banking Committee in March, but a delicate bipartisan coalition nearly fell apart as Democrats made a series of surprise demands at the beginning of May.<\/p>\n<p>What followed were weeks of negotiations and political gamesmanship as Senate Majority Leader John Thune (R-SD) dared Democrats to oppose a test vote on the legislation. That vote <a href=\"https:\/\/www.washingtonexaminer.com\/news\/3405673\/stablecoin-bill-fails-senate-hurdle-after-democratic-revolt\/\" target=\"_blank\" rel=\"noopener\" title=\"\">failed<\/a>, and the lead sponsors &mdash; Sens. Kirsten Gillibrand (D-NY), Bill Hagerty (R-TN), and Cynthia Lummis (R-WY) &mdash; went back to the drawing board to make <a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3416441\/crypto-genius-act-senate-vote-clear-hurdle\/\" target=\"_blank\" rel=\"noopener\" title=\"\">further changes<\/a>.<\/p>\n<p>Lummis said the Banking Committee will attempt to avoid the same messy, public bartering as lawmakers turn their attention to the CLARITY Act, an even broader bill to set national rules for digital assets.<\/p>\n<p>&ldquo;We want to try and get as much done in the committee as possible,&rdquo; Lummis said, predicting that the larger bill could be marked up before the August recess.<\/p>\n<p>Another challenge will be reaching a compromise with the House, where Republican leaders are <a href=\"https:\/\/www.politico.com\/news\/2025\/06\/17\/senate-crypto-stablecoin-legislation-house-republicans-00410172\" target=\"_blank\" rel=\"noopener\" title=\"\">considering<\/a> whether to delay sending the GENIUS Act to President Donald Trump&rsquo;s desk and instead package it with the larger crypto bill.<\/p>\n<p>For now, Senate leaders are hailing the stablecoin bill as a landmark piece of legislation that overcame the partisan divisions of Trump&rsquo;s second term.&nbsp;<\/p>\n<p>His family&rsquo;s investments in cryptocurrency, including allegations of corrupt self-dealing, galvanized most Democrats to oppose the bill. Sen. Elizabeth Warren (D-MA), the ranking member of the Banking Committee, also argued the bill had &ldquo;weak safeguards&rdquo; for consumers and financial stability.<\/p>\n<p>The GENIUS Act survived a separate effort to attach so-called &ldquo;poison pill&rdquo; amendments on the Senate floor, delaying a final vote for days.<\/p>\n<p>Thune ultimately abandoned plans to have an open amendment process to block the most controversial amendments, chief among them a <a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3417816\/crypto-bill-revives-roger-marshall-push-swipe-fee-vote\/\" target=\"_blank\" rel=\"noopener\" title=\"\">credit card swipe fees<\/a> bill sponsored by Sen. Roger Marshall (R-KS).<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/3434396\/crypto-2026-war-chest-congress\/\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>CRYPTO INDUSTRY BUILDS 2026 WAR CHEST TO PROTECT FOOTHOLD IN CONGRESS<\/strong><\/a><\/p>\n<p>The legislation&rsquo;s passage represents a significant victory for the cryptocurrency industry, which lobbied the Senate heavily in the lead-up to the vote. In last year&rsquo;s congressional races, it poured tens of millions of dollars into <a href=\"https:\/\/amzn.to\/3YuVZYV\" >electing pro-crypto lawmakers<\/a>.<\/p>\n<p>On Tuesday, Republicans touted the GENIUS Act as the first Banking Committee bill to make it to the Senate floor in eight years and the first major piece of legislation to pass the Senate this Congress.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2150601\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2150601\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senate passes groundbreaking cryptocurrency bill with Democratic support<\/p>\n","protected":false},"author":2651,"featured_media":2448599,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/06\/AP25154748310607-1024x591.webp","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[3667,12577,4762,3740],"class_list":["post-2448598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-bipartisan","tag-cryptocurrency","tag-legislation","tag-senate"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/06\/AP25154748310607-1024x591.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2448598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2651"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2448598"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2448598\/revisions"}],"predecessor-version":[{"id":2448602,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2448598\/revisions\/2448602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2448599"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2448598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2448598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2448598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}