The U. S. Senate has narrowly blocked progress on the GENIUS Act —a bill aimed at shaping federal policy on stablecoins—following a 49-48 vote, with Senate Democrats raising concerns over former President Donald Trump’s cryptocurrency involvement. The bill, introduced by Senator Bill Hagerty and supported by Senators Tim Scott, Kirsten Gillibrand, Cynthia Lummis, and Angela Alsobrooks, did not advance in the Senate on May 8, falling short of the necessary votes for progression
source: https://news.shib.io/2025/05/09/senate-rejects-genius-act-by-1-vote-stablecoin-rules-unclear/?utm_source=rss&utm_medium=rss&utm_campaign=senate-rejects-genius-act-by-1-vote-stablecoin-rules-unclear