The US Senate may soon vote on legislation that would establish US regulations for issuers of stablecoins, who also mark the first time the chamber has considered a large crypto bill.

Senate’s majority leader John Thune, a Republican in South Dakota, started the ball by rolling to quickly track the lead and establish national innovation for US stableecoins (Genius), which is the Senate’s version of two similar bills rolling through both congress chambers. The House of Representatives is expected to follow closely behind its own vote. Thune’s steps to speed up the bill are intended to limit delays and flooring to get it done faster. It is so far unclear just when the Senate vote will happen, but a previous vote on the efforts of the Senate Bank Committee had approved it with a wide Topart majority of 18-6. House Financial Services Committee also presented its similar bill in April.

“I look forward to adopting the genius action in short order to keep digital asset innovation in America, protect customers and make sure foreign companies play according to the same rules,” Senator Bill Hagty, the Tennessee Republican, who wrote the bill, said in a statement. It is also supported by Senator Tim Scott, the chairman of the Senate Bank Committee.

President Donald Trump’s self -described crypto sherpa, Bo Hines, CEO of the President of Digital Assets CEO, said Coindesk earlier this week that the two bills are as much as 90% similar and that members of both chambers seek to find out the differences.

Hagty said he would introduce an updated version of the bill earlier Thursday.