WASHINGTON (AP) — The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers.

The 68-30 vote on the GENIUS Act was the first time that the Senate has passed major legislation to regulate digital assets.

The Senate has passed legislation that would regulate a form of cryptocurrency known as stablecoins. It is the first of what the industry hopes will be a wave of bills to bolster its legitimacy