U.S. Senate Blocks Stablecoin Regulation, Leaving Market Uncertain

A crucial regulatory bill for stablecoins, known as the GENIUS Act, failed in a narrow vote within the U.S. Senate. The 48-49 vote left the future of this proposed framework uncertain, while deep political divides likely contributed to the outcome. This rejection highlights ongoing challenges in establishing clear regulations for stablecoins, leaving markets grappling with uncertainty about their future.