🇺🇸 USA: GENIUS Act Failed in Senate
🛑 This happened due to a change in the position of Democratic senators who previously supported the law. Now they voted against it, led by Kirsten Gillibrand. Previously, she was one of the main initiators of this law.
🚦 Senators said that the new Republican amendments to the law are too insufficiently developed in the area of AML and investor security. Democrats generally believe that this law and the entire crypto policy of the Republicans in the United States lobbies too much for the interests of the crypto business (and Donald Trump personally).
🤯 It seems that the situation with crypto regulation in the United States is getting worse and new laws on crypto are being postponed because of the Democrats. On the other hand, while there are no new laws, most decisions will be made by regulators (CFTC, SEC, OCC, FinCEN), which are led by Republicans. So crypto businesses can benefit even from this failure.