The U.S. Senate has moved forward with the GENIUS Act — a bill designed to regulate stablecoins — following a key vote on May 19 that passed 66-32.

A battle has erupted within the Senate Democratic Conference over a bipartisan bill that would pave the way for broader commercial acceptance of cryptocurrency assets known as stablecoins, which

Sen. Warren, the ranking member of the Banking Committee, is on the opposing side of the so-called GENIUS Act.

The House narrowly passed its massive GOP tax and spending cuts package on Thursday, sending President Donald Trump’s “one big, beautiful bill” over to the Senate, where it will likely face many changes.

The Senate is poised to take up the Republican megabill after it narrowly passed in the House. But ongoing disputes and a slim majority mean more obstacles ahead.