The Senate failed to advance the GENIUS Bill revised on Thursday, as some legislators claimed they had not seen the text of the bill. A day later, the draft was published, revealing significant changes:

⚫ U.S. jurisdiction would now apply to foreign issuers of stablecoins like Tether if they provide services to U.S. users.

⚫ The definition of digital asset service providers is expanded to include developers, validators, and self-custody wallet providers.

⚫ The Treasury obtains limited safe harbor authority, with broad powers in 'urgent circumstances'

A new vote on the bill may take place later this month.