Deep Tide TechFlow news, on May 9, U.S. Treasury Secretary Scott Bessent stated today that the Senate's failure to advance the GENIUS Act is a missed opportunity to expand the dominance of the U.S. dollar. The bill was originally intended to establish a unified federal regulatory framework for stablecoins and digital assets, replacing the existing state-level regulatory system. Bessent warned that if the U.S. fails to establish leadership in the digital assets space, related innovative activities may shift overseas.