U.S. Senate Fails Key Vote on GENIUS Act, Impacting Crypto Regulation

The U.S. Senate’s attempt to pass the GENIUS Act, a key piece of cryptocurrency regulation legislation, has failed, potentially setting back efforts for clearer regulatory guidelines in the crypto space. With 48 senators voting in favor and 49 against, the bill fell short of the required 60 votes. The vote marks a setback for bipartisan efforts to establish consistent regulations within the U.S., impacting the innovation and financial landscape of the cryptocurrency industry.