The legislation to set rules for stablecoin issuers is the first major digital assets bill to ever clear the Senate and now moves on to the U.S. House.

The US Senate has passed the Genius Act with strong bipartisan support marking a historic shift toward federal regulation of stablecoins and signalling a new era for the cryptocurrency industry

Congress passed the GENIUS Act this week, boosting the market for stablecoins. Here's what investors need to know about the corner of the crypto market.