Treasury Secretary Criticizes Senate for Delaying Stablecoin Bill, Urging American Leadership

In a public statement shared on X, Treasury Secretary Bessent expressed disappointment with the Senate’s inaction regarding the GENIUS Act, which aimed to establish clear regulatory guidelines for stablecoins. According to Bessent, this legislation offered a unique opportunity to advance American leadership in the rapidly evolving field of digital finance. He argued that a lack of federal regulation would hinder innovation and potentially lead to international competition shifting away from the U.S. }