{"id":156479,"date":"2025-05-09T19:00:11","date_gmt":"2025-05-09T16:00:11","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=156479"},"modified":"2025-05-09T19:04:41","modified_gmt":"2025-05-09T16:04:41","slug":"stablecoin-reform-stalls-in-senate-amid-political-rift","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/stablecoin-reform-stalls-in-senate-amid-political-rift\/","title":{"rendered":"Stablecoin Reform Stalls in Senate Amid Political Rift"},"content":{"rendered":"<p>The bill in question, dubbed the GENIUS Act, stalled on May 8 after it didn\u2019t secure enough votes to proceed, highlighting ongoing divisions over digital asset policy in Washington.<\/p>\n<p>Originally championed by Senator Bill Hagerty and supported by a bipartisan group of lawmakers including Tim Scott, Kirsten Gillibrand, <strong><a href=\"https:\/\/x.com\/senlummis\/status\/1920546701112209910?s=46\" target=\"_blank\" rel=\"nofollow\">Cynthia Lummis<\/a><\/strong>, and Angela Alsobrooks, the bill aimed to formalize rules for stablecoin issuers. The legislation was viewed by many as a strategic move to maintain U.S. dollar dominance in the evolving digital payments space, steering clear of more divisive crypto topics.<\/p>\n<p>In a bid to win over skeptical Democrats, lawmakers introduced additional provisions targeting anti-money laundering compliance. However, concerns surrounding former President Donald Trump\u2019s crypto-related business ties reportedly sparked late resistance among Democratic senators, ultimately blocking the measure from advancing.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/trump-memecoin-frenzy-enriches-few-leaves-thousands-in-the-red\/\" title=\"Trump Memecoin Frenzy Enriches Few, Leaves Thousands in the Red\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/1800-5d0132b2b0061-240x170.\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Trump Memecoin Frenzy Enriches Few, Leaves Thousands in the Red<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Following the vote, Senate Majority Leader John Thune expressed frustration, accusing Democrats of stalling progress despite previous compromises.<\/p>\n<p>Prominent figures in the crypto space and on Capitol Hill voiced disappointment. Senator Lummis called the failed vote a missed opportunity, stressing that the U.S. must embrace its leadership role in the digital economy. Treasury Secretary Scott Bessent echoed this sentiment, emphasizing the need for America to guide the global development of stablecoins.<\/p>\n<p>The Blockchain Association also weighed in, noting the setback while remaining optimistic about bipartisan momentum for future regulatory initiatives.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Efforts to create a clear legal framework for U.S. stablecoins took a hit this week after the Senate failed to push forward a key piece of legislation.<\/p>\n","protected":false},"author":3,"featured_media":79332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-156479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stablecoin Reform Stalls in Senate Amid Political Rift - 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