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⛔️ The GEN Law is stalled in the Senate
🇺🇸 The United States Senate unexpectedly rejected the GENIUS Act, a bill aimed at establishing a comprehensive regulatory framework for the issuance and supervision of stablecoins.
❌ The initiative was rejected by just one vote difference.
For Treasury Secretary Scott Bessent, "this bill represented a unique opportunity to expand the dominance of the dollar. Without it, stablecoins will be subject to a heterogeneous set of state regulations rather than a simplified federal framework that favors growth and competitiveness."