GENIUS Act fails; Meta’s stablecoin
The GENIUS Act fails in Senate: Crypto regulation hits a wall
Last week, the U.S. Senate voted on one of the most significant crypto bills of the year: the Guiding and Establishing National Innovation in U.S. Stablecoins (GENIUS) Act. The bill, which aimed to create a national regulatory framework for payment stablecoins, fell short, receiving 49 “no” votes and 48 “yes” votes, which is short of the 60 needed to pass.
The GENIUS Act was a bipartisan bill that originally had support…
