The U.S. Senate has passed a bill to create a regulatory framework for stablecoins, a once-niche corner of the crypto industry that is gaining traction among global companies. Stablecoins, a type of cryptocurrency designed to maintain a constant value – typically pegged 1:1 to the U.

Top crypto stocks on Wall Street surged on Wednesday after the U.S. Senate approved a milestone stablecoin bill, fuelling hopes for broader adoption of what was once a niche corner of the crypto sector.

Cryptocurrency: The Senate passed legislation to establish a regulatory framework for stablecoins, putting the cryptocurrency industry, which had long been viewed with suspicion by lawmakers in Washington,