On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.

As 'Crypto Week' comes to an end, here is why the GENIUS bill, which will establish a regulatory framework for stablecoins in the U.S., matters for crypto and the masses.