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Senate Stablecoin Bill Faces Legislative Hurdles as GENIUS Act Stalls
Senate Stablecoin Bill Faces Legislative Hurdles as GENIUS Act Stalls
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The U.S. crypto industry’s push for regulatory clarity on stablecoins has hit a roadblock. The GENIUS Act, which would establish a legal framework for stablecoin issuance, failed a key procedural vote in the Senate. While some view this as a fatal setback, others suggest there may still be pathways forward.
Technically, the window to reconsider the bill has expired under Senate rules. The legislation’s stagnation reflects broader challenges in cryptocurrency regulation, despite the sector’s increased political influence. Market participants now face continued uncertainty around stablecoin operations in the U.S.
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