"For stablecoins and other digital assets to thrive globally, the world needs American leadership" - Treasury Secretary Scott Bessent issues bold statement.
And it reads;
" The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act.
This bill represents a once-in-a-generation opportunity to expand dollar dominance and U.S. influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework that is more conducive to growth and competitiveness.
The world is watching while American lawmakers twiddle their thumbs. Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore."