$LUNC

📉 GENIUS Stablecoin Act Fails in the U.S. House of Representatives!

🚫 After passing the Senate, the GENIUS bill hit a wall in the House due to internal conflicts and was rejected on Monday evening.

🔍 Key Reasons:

1. Division within the Republican Party over the voting mechanism.

2. Opposition from Democrats due to conflict of interest involving Trump and the USD1 project.

3. Demands to bundle the bill with other legislation like a CBDC ban.

⚖️ The bill has been sent back to the Senate… and its future remains uncertain.

🧨 Why does this matter?

Many in the crypto community were awaiting its approval — not just for regulation clarity, but because it could directly impact Do Kwon’s legal case and the broader framework around algorithmic stablecoins like UST.

📌 What do you think: Is this the end of the USD1 project? Or just a political detour?

#GENIUS #Stablecoin #CryptoNews #CryptoRegulation #USD1 #Congress #DoKwon #Terra #UST #Web3