#USStablecoinBill US stablecoin bill blindsided by Democratic U-turn over consumer, security concerns.

For a moment, it looked like Democrats and Republicans in Washington might actually come together to get something productive done for crypto.

But just days before a key vote, that spirit of bipartisanship is cracking.

A group of nine Senate Democrats who previously supported the GOP-led GENIUS stablecoin bill now say they won’t back it in its current form, throwing the bill’s path forward into doubt.

In a joint statement released Saturday, the lawmakers said the legislation lacks sufficient safeguards on anti-money laundering, foreign issuer restrictions, and national security, and warned they “would be unable to vote for cloture” without further changes, according to Politico.