The US Senate failed to advance a key stablecoin regulation bill, the GENIUS Act, due to internal political disagreements. The bipartisan legislation, designed to establish clear rules for digital currencies, was blocked after failing to secure the 60 votes needed to proceed through the full chamber. Senator Josh Hawley and Rand Paul joined Democrats in their opposition, citing concerns about President Trump’s ties to cryptocurrency projects. Notably, Democratic senators who initially supported the bill withdrew their backing following media reports linking President Trump to a new stablecoin project by World Liberty Financial. 10 Democrats switched their votes in protest, demanding stricter anti-money laundering rules and national security protections. Republicans accused Democrats of hindering progress due to personal animosity towards President Trump, while Senator Cynthia Lummis expressed disappointment over the setback for the US’s digital asset regulatory landscape. The bill’s future remains unclear as debate surrounding it could continue next week, but its passage into law now appears unlikely. The stalled legislation highlights the contentious political nature of crypto regulation in the US.