The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The US Senate narrowly rejected the GENIUS Act, a bipartisan bill aimed at regulating stablecoins. The motion failed by one vote, sparking criticism from lawmakers and industry leaders. Efforts to reintroduce the bill are already underway.
- The GENIUS Act, a stablecoin regulation bill, was blocked in the Senate by a one-vote margin (49-48).
- Treasury Secretary Scott Bessent emphasized the bill’s importance for maintaining US leadership in crypto innovation.
- Industry experts and lawmakers expect a revised version of the bill to be introduced as early as next week.
📎 Read the original article on cryptoslate.com
Related Tags: Stablecoin