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BTCC / BTCC Square / Global Cryptocurrency /
Senate Blocks GENIUS Act in Narrow Vote, Stablecoin Regulation Delayed

Senate Blocks GENIUS Act in Narrow Vote, Stablecoin Regulation Delayed

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2025-05-08 19:59:02
0

The U.S. Senate failed to advance the GENIUS Act, a pivotal stablecoin regulation bill, after Democrats rejected a cloture motion by a single vote. The 49-48 tally marks the fourth filibuster of 2025, with Majority Leader John Thune criticizing the obstruction as politically motivated.

Senator Tim Scott framed the rejection as a blow to financial innovation, lamenting lost bipartisan potential. Treasury Secretary Scott Bessent echoed concerns, warning the stalemate undermines America’s ability to shape global crypto standards. Lawmakers now pivot to drafting alternative legislation for next week.

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