US Senate Blocks Stablecoin Regulation, Fueling Crypto Uncertainty

The US Senate failed to advance the GENIUS Act, which aimed to create a regulatory framework for stablecoins, highlighting persistent challenges in crafting a clear crypto policy. The bill’s stalling reflects political gridlock and raises questions about future stability for this rapidly evolving sector. While the impact on the market is uncertain, observers anticipate potential volatility in stablecoin prices. Key players involved include Senators Bill Hagerty and Cynthia Lummis, while the Senate Banking Committee played a crucial role in discussions surrounding the legislation. )