The Senate voted 66-32 Monday evening to advance first-of-its-kind legislation to regulate “stablecoins,” a kind of cryptocurrency. Democrats had initially voted to block the bill earlier this month amid concerns over President Donald Trump’s cryptocurrency deals.

The US Senate moved the GENIUS Act forward with a 62-32 procedural vote, signaling progress in long-awaited stablecoin regulation.

The Senate moves closer to enacting stablecoin regulation with bipartisan support, though deep fractures emerged within the Democratic Party. As President Trump champions digital assets, lawmakers spar over corruption,