Senate Delays Stablecoin Bill Vote, Raising Concerns for Crypto Regulation

The Senate failed to advance the GENIUS Act, a key bill aimed at regulating stablecoins, during its initial vote. This unexpected setback has raised concerns about the future of cryptocurrency regulation in the U.S. The bill faces uncertainty with potential for a second vote next week. While bipartisan support and presidential backing from former President Trump have signaled strong legislative momentum for the bill, this delay could impact market structure and clarity on future regulatory efforts.