The GENIUS Act, a key bill on stablecoins in the U.S., failed in a crucial Senate vote.
⚫ The latest version of the bill was presented without Democratic participation.
⚫ Recent comments from Trump in favor of cryptocurrencies sparked backlash, with Democrats citing a conflict of interest.
⚫ As a result, the bill's chances — and those of other cryptocurrency legislation — have significantly decreased.
⚫ A new vote is scheduled for Monday, but the outlook remains uncertain.
