The GENIUS bill is stalled in the Senate, and the outlook for stablecoin legislation is uncertain.

WuSaidBlockchainW

2025-05-08 18:39:19

The U.S. Senate did not pass the key procedural vote for the GENIUS Act, as insiders said that some Democratic lawmakers who previously supported the bill switched to opposition during Thursday’s vote due to concerns over the latest version’s AML and national security provisions. The Republican push for a vote failed to gain enough support, and the bill is temporarily shelved. The White House originally planned to sign the Crypto Assets legislation protocol in the Rose Garden in August, but the outlook is now unclear. (Decrypt)

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