Senate Republicans teamed up with a bloc of Democrats to pass a landmark cryptocurrency bill that would establish the first regulatory framework for issuers of stablecoins.

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.