US Senate Fails To Advance GENIUS Act
In a massive development for the crypto industry, the US Senate has failed to advance the GENIUS Act to the floor of the House following a key procedural vote. Following allegations of corruption against US President Donald Trump, Democratic Senators had asked for an amendment to the bill. Still, these Senators have now voted ‘no,’ a move which Republican Senators claim to be them playing politics.
GENIUS Act Fails To Advance To Next Stage
In an X post, Republican and pro-crypto Senator Cynthia Lummis revealed that the US Senate has failed to advance the GENIUS Act, which aims to introduce a regulatory framework for stablecoins. The Senator expressed her displeasure, stating that she is deeply disappointed that they were unable to pass the “important bipartisan crafted stablecoin legislation today.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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