Developers to benefit from a Blockchain Bill that seeks to differentiate money transmitters in push for sound crypto regulation

Supporters celebrated the legislation as a way to protect consumers and set standards for the industry while critics argue it’s not a check on conflicts of interest

Asset manager Bitwise says the US stablecoin bill could be bigger than Bitcoin ETFs, and may spark a multi-year crypto bull run.

The Senate voted 66-32 Monday evening to advance first-of-its-kind legislation to regulate “stablecoins,” a kind of cryptocurrency. Democrats had initially voted to block the bill earlier this month amid concerns over President Donald Trump’s cryptocurrency deals.

Hong Kong overpowers the US in crypto regulation as the city establishes a licensing regime for fiat-referenced stablecoin issuers.