The cryptocurrency industry has achieved a major victory, with the US Senate passing the stablecoin bill supported by Trump On June 17th, the US Senate passed the stablecoin bill supported by President Trump, establishing regulatory rules for cryptocurrencies pegged to the US dollar, marking a major victory for the cryptocurrency industry. The voting result on Tuesday evening was 68 in favor and 30 against, marking a rare bipartisan cooperation in the highly divided Senate. Democrats sought to ban Trump from profiting from his numerous cryptocurrency projects during his term, but were successfully blocked by Republicans. The market value of stablecoins associated with Trump has reached $2 billion. This stablecoin legislation is the most effective return for the cryptocurrency industry in promoting the establishment of a favorable regulatory environment. Previously, the industry had invested hundreds of millions of dollars to support cryptocurrency friendly members of Congress. In last year's election, cryptocurrency giants formed the most well funded corporate political action coalition in US history, and they have formulated similar plans for the 2026 midterm elections. Stablecoins pegged to the US dollar must hold reserves equivalent to their issuance, which can be short-term government bonds or similar products regulated by state or federal agencies. Supporters of the cryptocurrency community hope that this bill will make stablecoins a mainstream payment method. Some retailers also support the bill, believing that stablecoins are cheaper and faster than traditional bank payment methods such as credit cards and checks for processing transactions.