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BTCC / BTCC Square / Global Cryptocurrency /
US Senate Democrats Block Stablecoin Bill Amid Partisan Dispute

US Senate Democrats Block Stablecoin Bill Amid Partisan Dispute

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2025-05-10 07:54:02
0

The US crypto industry faces a regulatory setback as Senate Democrats thwarted advancement of the GENIUS Act, a pivotal stablecoin bill. The legislation failed to secure the 60 votes needed for cloture, with 49 senators supporting the motion. Republican critics accused Democrats of prioritizing partisan interests over policy progress.

Two Republican senators joined Democrats in opposing the bill, highlighting bipartisan resistance to the current proposal. The failed vote leaves stablecoin regulation in limbo, creating uncertainty for issuers and exchanges navigating the US market.

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