Senate Blocks Stablecoin Regulation in Close Vote, Highlighting Partisan Divide

The U.S. Senate has blocked the GENIUS Act, legislation aimed at regulating stablecoins, with a 48-49 vote. This close vote highlights the ongoing divide within the government regarding crypto regulation, leaving stablecoin frameworks uncertain and delaying potential oversight. The bill’s rejection, despite its attempt to address market stability concerns, leaves the future of USDC and USDT unclear. While there were no immediate liquidity shifts, the decision reflects a broader political battle over cryptocurrency legislation.