#USStablecoinBill

The future of the stablecoin bill in the U.S. Senate is in doubt after an unexpected turn of events. Despite earlier bipartisan progress, nine pro-cryptocurrency Democrats, four of whom had previously supported the bill, have withdrawn their support. They expressed concerns about insufficient measures to ensure national security, combat money laundering and protect consumers. The bill, known as the GENIUS Act, was intended to create the first federal regulatory framework for stablecoins pegged to the U.S. dollar, a priority of the Trump administration’s fiscal policy. The refusal of Democrats, including Senators Ruben Gallego, Mark Warner, Lisa Blunt Rochester and Andy Kim, jeopardizes the passage of the bill, which needs at least seven Democratic votes to pass. Critics, including Senator Elizabeth Warren, have highlighted the risks of terrorist financing and sanctions evasion due to weak regulations. Meanwhile, Republicans like Senator Bill Hagerty are pushing for clear rules to support innovation and the dollar’s competitiveness.

The split could delay regulation of stablecoins, leaving the crypto industry in limbo. Further negotiations will be crucial to the fate of the bill and the future of digital assets in the