Internet reported that the U.S. Senate passed the landmark GENIUS Act on Tuesday, boosting the U.S. federal government's regulatory efforts on stablecoins and putting pressure on the House of Representatives to plan the next phase of the country's regulatory efforts on digital assets. This is the first time that the Senate has passed important cryptocurrency legislation. Republican Senator Bill Hagerty, the sponsor of the GENIUS Act, thanked some fellow senators for their support before the formal vote. Less than a week ago, lawmakers overwhelmingly voted to pass the bill, and many expected it to pass. Next, the House needs to decide how to move forward. In April this year, the House Financial Services Committee proposed its own stablecoin legislation-the "stablecoin Transparency and Accountability for a Better Book Economy Act." However, the bill has not yet been submitted to the full House of Representatives for a vote.