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Stablecoin Regulation Stalls as Senate Torpedoes GENIUS Act—Crypto’s Washington Hopes Take a Hit
Stablecoin Regulation Stalls as Senate Torpedoes GENIUS Act—Crypto’s Washington Hopes Take a Hit
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Washington’s latest attempt to corral stablecoins just faceplanted—hard. The so-called GENIUS Act got smacked down in a Senate vote, leaving the $150B sector in regulatory purgatory (and lobbyists scrambling to justify their retainers).
No rules, no problem? Not quite. The failure kicks the can down the road while Tether prints another $2B in IOUs and senators pretend to understand blockchain. Meanwhile, TradFi banks are already circling with ’compliant’ alternatives—at 3x the fees, naturally.
For crypto natives, it’s another reminder: when D.C. says ’innovation,’ check your wallet.
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