Senate Rejects GENIUS Act, Jeopardizing Crypto Legislation - CVJ.AI

21:06 08.05.2025 robbob

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The Senate’s GENIUS Act, a key stablecoin bill, failed a procedural vote, dealing a major setback to crypto legislation. Pro-crypto Democrats withdrew support, raising doubts about future bipartisan cooperation on digital asset regulation.

Key Democrats who previously supported the GENIUS Act reversed their positions, citing incomplete text and AML concerns.
The failed vote may negatively impact other crypto bills, including parallel stablecoin and market structure legislation.
Crypto industry's political strategy faces uncertainty after months of apparent progress, with potential consequences for 2026 elections.

📎 Read the original article on decrypt.co

Related Tags: Donald Trump

Other Tags: Bo Hines, Kirsten Gillibrand, Decrypt, DeFi, United States Senate, White House

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