The U.S. Senate voted Thursday to block the advancement of the GENIUS Act with a vote of 48-49. The bill was originally intended to establish the first regulatory framework for stablecoins in the United States, but it failed to secure the necessary 60 votes due to a deadlock in bipartisan negotiations.

Democratic lawmakers unanimously opposed the bill, mainly concerned about potential conflicts of interest arising from the Trump family's recent cryptocurrency collaboration with an Abu Dhabi investor. They called for the inclusion of provisions in the bill to prohibit executive branch officials from participating in cryptocurrency transactions. Republican Senators Hawley and Paul also voted against it due to concerns over excessive regulation.

Despite intense negotiations between both parties, they failed to reach a consensus on key provisions related to anti-money laundering and national security. The bill is currently on hold, but Republican leader Thune indicated that it may be resubmitted for a vote in the future. #BTC重返10万