PANews, May 9 - U.S. Treasury Secretary Scott Bessent stated on social platform X that the U.S. Senate failed to advance the GENIUS Act, which is a "missed intergenerational opportunity to expand the dominance of the dollar and the impact of financial innovation." He warned that in the absence of a unified federal regulatory framework, stablecoins will develop amid fragmented state regulations, which is detrimental to the U.S. maintaining its global leadership position and may push digital asset innovation overseas.