In an enormous improvement for the crypto trade, the US Senate has did not advance the GENIUS Act to the ground of the Home following a key procedural vote. Following allegations of corruption towards US President Donald Trump, Democratic Senators had requested for an modification to the invoice. Nonetheless, these Senators have now voted ‘no,’ a transfer which Republican Senators declare to be them taking part in politics.
GENIUS Act Fails To Advance To Subsequent Stage
In an X post, Republican and pro-crypto Senator Cynthia Lummis revealed that the US Senate has did not advance the GENIUS Act, which goals to introduce a regulatory framework for stablecoins. The Senator expressed her displeasure, stating that she is deeply upset that they had been unable to cross the “essential bipartisan crafted stablecoin laws right now.
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