The approval of a landmark stablecoin bill by the U.S. Senate has sent crypto stocks skyrocketing, paving the way for broader adoption and regulatory clarity in the crypto sector. Major players like Circle are set to benefit significantly.
In a historic 68-30 vote, the Senate passed the GENIUS Act, establishing a federal framework for stablecoins. With bipartisan support, this legislation marks a pivotal moment for the crypto industry amidst intense political dynamics.
The new tax bill proposed by Republicans aims to maintain individual tax rates while increasing the standard deduction and child tax credit. However, it faces criticism over potential cuts to social services and the impact on low-income families.
