WASHINGTON, D.C. — Momentum to pass a regulatory framework for cryptocurrencies has slowed in the Senate, dimming prospects that the legislation will pass this year.
What You Need To Know
- Legislation to create a regulatory framework for cryptocurrencies has stalled in the SenateÂ
- Sen. Bernie Moreno, a former crypto entrepreneur, has been helping lead negotiations
- The main issue is a dispute between the banking and crypto industries over whether stablecoins should be able to offer rewards
Last July, President Donald Trump signed into law the nation’s first-ever major crypto legislation, marking a distinct change in how the government approaches and regulates cryptocurrencies. The GENIUS Act set regulations for a type of…
