The U.S. Senate Banking Committee has advanced a crypto industry stablecoin regulation bill, an important first step in sending the bill to President Donald Trump for signature into law. With its first committee approval, the bill, which would regulate U.S. stablecoin issuers at the federal level, now needs to be passed by the Senate as a whole, and a similar version awaits approval in the House of Representatives. While there are still many hurdles to overcome, including the eventual merger of different bills from both chambers, the bill has passed committee by a vote of 18 to 6.