Senate Republicans teamed up with a bloc of Democrats to pass a landmark cryptocurrency bill that would establish the first regulatory framework for issuers of stablecoins.

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.

The GENIUS Act is the first major crypto-related bill to clear the Senate. However, the House does have its own Digital Asset Market Clarity Act, which is a more sweeping crypto bill that would provide a framework for the wider crypto market, not just stablecoins.