Senate Halts Stablecoin Bill Amidst Partisan Gridlock

A key effort to regulate the cryptocurrency stablecoin market has stalled in the US Senate. Republicans, who had drafted the GENIUS Act with a focus on U.S. oversight expansion, failed to secure a procedural vote for its passage. The bill now faces further delays as Democratic senators demand additional amendments before negotiations can proceed. This action highlights the deep partisan divides within Congress regarding financial regulations in the cryptocurrency sector.