Stablecoins could get a big boost in Congress. Here’s what to know about the digital currency.

News Snapshot:

What are stablecoins and how does the GENIUS Act regulate them? So-called stablecoins could be a step closer to becoming a mainstream form of payment in the U.S. as the House of Representatives considers a bill regulating the digital currency. The Genius Act, which passed in the Senate last month with broad bipartisan support, would create rules of the road for the $250 billion market for stablecoin, a type of cryptocurrency. The bill is also part of a broader push by Republican lawmakers and President Trump to support the cryptocurrency industry and ease regulations around the emerging sector. House Republicans...