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Senate Stalls GENIUS Act, Sparing Tether from Immediate Regulatory Scrutiny
Senate Stalls GENIUS Act, Sparing Tether from Immediate Regulatory Scrutiny
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Tether, the largest stablecoin issuer, narrowly avoided heightened U.S. regulatory oversight as Senate Republicans failed to advance the revised GENIUS Act. The legislation sought to impose licensing requirements, reserve disclosures, and federal supervision on stablecoin operators—measures deemed sensible yet potentially disruptive to DeFi ecosystems.
The stalled bill reflects ongoing tensions between innovation and accountability in digital asset markets. While the Act proposed baseline safeguards for stablecoins, its provisions raised concerns among decentralized finance participants about jurisdictional overreach and operational constraints.
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