Congress passed the GENIUS Act this week, boosting the market for stablecoins. Here's what investors need to know about the corner of the crypto market.

The U.S. Senate on Tuesday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, in a watershed moment for the digital asset industry.

The Senate passed first-of-its-kind bipartisan cryptocurrency legislation, called the GENIUS Act, after months of negotiations and weeks of back-and-forth between Democratic and Republican backers. The final tally was 68-30,

Hackers stole the equivalent of roughly $90 million from Iran’s largest cryptocurrency exchange on Wednesday, according to multiple independent crypto-tracking firms.

Iran’s largest cryptocurrency exchange, Nobitex, was hacked for more than $90 million Wednesday, according to blockchain analytics firm Elliptic