In a significant development, the Senate passed the GENIUS Act on Tuesday, a bill establishing the country’s first regulatory framework for dollar-pegged stablecoins. 

Prominent names tied to the cryptocurrency industry soon took to social media to celebrate the passage.

What happened: Brian Armstrong, CEO of America’s largest cryptocurrency exchange, Coinbase Global Inc. COIN, called it a “big milestone.”

Paolo Ardoino, CEO of the world’s largest stablecoin-issuing company, Tether USDT/USD, wrote “GENIUS” in a post, alongside the emojis of the U.S. national flag and the national bird, the bald eagle.

Jeremy Allaire, co-founder and CEO of the newly listed stablecoin company, Circle…

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