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 Senate passed first-of-its-kind bipartisan cryptocurrency legislation, called the GENIUS Act, after months of negotiations and weeks of back-and-forth between Democratic and Republican backers. The final tally was 68-30,

The 68-30 vote on the GENIUS Act was the first time that the Senate has passed major legislation to regulate digital assets.