#USHouseMarketStructureDraft The U.S. Senate's push for stablecoin regulation faces new challenges. The GENIUS Act, designed to establish a federal framework for stablecoin issuers, is encountering bipartisan resistance. Nine Senate Democrats have withdrawn their support, citing concerns over anti-money laundering provisions and potential conflicts of interest linked to the Trump family's crypto ventures .

Despite the bill's earlier bipartisan backing and passage through the Senate Banking Committee, these developments cast uncertainty over its future. The Senate aims to vote on the legislation before Memorial Day, but internal divisions may delay progress .

As the debate continues, the crypto industry watches closely, recognizing the significant impact this legislation could have on the future of digital assets in the U.S.