Sen. Mark Kelly, D-Arizona, was in South Carolina for a town hall advocating gun safety measures on the 10th anniversary of a massacre at a predominantly Black church, and did not vote on the crypto bill. In a statement, he said he supported its passage.

The bill was a significant step toward giving the cryptocurrency industry the credibility and legitimacy it has sought, without limitations it has worked to head off.

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.