GENIUS Act Update: U.S. Senators Push Back Amid National Security Concerns

Key Points:

10 U.S. Senators, including Ruben Gallego, oppose the latest version of the GENIUS Act.

Criticisms focus on weak anti-money laundering safeguards and risks to national financial stability.

Initial bipartisan support falters after deeper legislative review.

The GENIUS Act, once seen as a potential cornerstone for U.S. crypto regulation, now faces mounting opposition in the Senate. Lawmakers cite national security and AML concerns as major hurdles, suggesting that the bill may need substantial revisions before moving forward.

Resistance Builds

Senators originally in favor are now voicing strong reservations. A joint statement released last week emphasized that without stronger compliance and financial safety measures, the bill could destabilize existing systems.

Room for Revision?

Financial analysts suggest targeted amendments—especially in security and regulatory clarity—could rekindle bipartisan backing. With Senator Angela Alsobrooks declining to sign the opposition letter, internal division remains among co-sponsors.

What’s Next?

As the GENIUS Act evolves, market observers are watching closely. The outcome could reshape how the U.S. approaches crypto governance, investor protection, and innovation at scale.

Disclaimer: This post is for informational purposes only and does not constitute financial advice.