The U.S. Senate approved the GENIUS Act — landmark stablecoin legislation — with a 68–30 vote, moving it closer to President Trump’s goal of signing it before the August recess. With the GENIUS Act, we’re bringing clarity to a sector that’s been clouded by uncertainty and proving that bipartisan, principled leadership can still deliver real results for the American people,” said U.S. Senate Banking Committee Chairman Tim Scott, R-S.C. Still, before reaching Trump’s desk, the bill must clear the House, where the August recess begins in around 50 days. But the political theater surrounding what could be the passage of the first-ever crypto framework in the U.S, the global implications for dollar-backed digital currencies and the growing institutional embrace of blockchain infrastructure tell a much larger story about rewriting the architecture of money itself. The momentum behind the GENIUS Act is increasingly being taken as a sign of approval by the broader crypto and traditional financial spaces. The stablecoin issuer Circle, for example, has gone public on the NYSE, while corporate interest in stablecoins is no longer theoretical. Major financial institutions including Bank of America (BofA), Wells Fargo and Citigroup are exploring the launch of a jointly operated stablecoin. JPMorgan announced that it is planning to offer its own stablecoin, JPMD. “Everybody’s jumping into stablecoins right now,” Brett McLain, head of payments and blockchain at Kraken, told. “All the big banks, they’re talking about creating their own; others want to leverage existing ones. Retail giants like Walmart and Amazon are exploring embedded payments powered by stablecoins. And global banks from Société Générale to Banco Santander are experimenting with cross-border liquidity management using on-chain dollar tokens. The passage of the GENIUS Act removes a major barrier to entry — legal risk — and adds institutional-grade legitimacy to what was once a speculative fringe technology.