Senate Passes GENIUS Act—Coinbase's Brian Armstrong Calls It 'Big Milestone,' Scott Bessent Says Passage Could Drive Stablecoins Into A $3.7 Trillion Market
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: benzinga_crypto
Updated: Jun 18 2025GENIUS Act Passed: The Senate passed the GENIUS Act, establishing a regulatory framework for dollar-pegged stablecoins, with notable support from cryptocurrency industry leaders and Treasury Secretary Scott Bessent predicting significant market growth.
Bipartisan Support and Controversy: Despite bipartisan approval, some Democrats opposed the bill due to concerns over President Trump's involvement and potential risks of crypto scams, leading to a contentious debate as the legislation moves to the House.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
