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.

The passage of a U.S. stablecoin bill could be one of the most important regulatory developments in the history of crypto, the report said.

Michigan and Washington are advancing new cryptocurrency regulations, aiming to boost innovation, protect investors, and clarify digital asset rules.

Michigan advances crypto bills on mining and tax breaks as Congress pushes blockchain rules to protect developers.

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

Senator Gillibrand's leadership in stablecoin regulation is under scrutiny amid campaign donations from major crypto firms.