The Senate is voting on legislation regulating a form of cryptocurrency called stablecoins. The bill is the first in what’s expected to be a wave of crypto-friendly legislation in Congress following the industry’s heavy spending in last year’s election.

The US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar, in a landmark win for the ascendant crypto industry and President Donald Trump.The 68-30 vote on Tuesday evening marked a rare moment of bipartisanship in the deeply divided Senate,

The US Senate passed the GENIUS Act, aiming to regulate stablecoins. The bill introduces rules and consumer safeguards for these cryptocurrencies. It received bipartisan support, with a vote of 68-30.