The Senate denied the motion to evoke the coagulation on the motion to consider the genius law law, which aims to regulate Stablecoins in the US.
The decision came with a difference with one votes, because 49 democratic senators denied the motion against 48 favorable voices.
Senate majority leader John Thune accused Democrats of using the filibuster for the fourth time in 2025, adding that the reason is unknown.
Thune said:
“This is a two -part issue. This is a dual bill. And it had a two -fold process from the start. If the Democrats were interested in further changes, as they claim, they would have the chance to make those changes to the floor. All they had to make was to vote for Cloture.”
Senator Tim Scott said The rejection of the motion was an obstruction of innovation and claimed that Democrats and Republicans missed an opportunity to “unite in an American way to make real change for Americans.”
Treasury Secretary Scott Bessent stated that the Senate was missing an opportunity to offer ‘American leadership’ that he considered necessary for Crypto to thrive worldwide.
Berrot Added:
“This bill represents a one -off opportunity to expand the dominance of dollars and the influence of the US in financial innovation. Without it, Stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework that is more promotion for growth and competitive capacity.”
Senator Cynthia Lummis shared her dissatisfaction with an X rackSaying that she was “deeply disappointed” by the result of the mood.
She added:
“Make no mistake, digital assets are the future, and America must be at the forefront. I want to thank President Trump, Senator Gillibrand, leader Thune, Chairman Scott and Senator Hagerty for their leadership and non -ending dedication to keep digital asset companies and Jobs on Job.”
Genius action temporarily delayed
Galaxy Digital Head of Research Alex Thorn said The “hope is that a new version of the bill will be introduced as soon as Monday tries again.”
Digital Chamber Head of Public Affairs Taylor Barr said The refusal of the coagulation movement is not the end, adding that it does not change that “digital assets are here to stay.”
Variant Fund Chief Legal Officer Jake Chervinsky said The decision “is not no, just not yet.” He added that there are many reasons why the legislation was not adopted on 8 May, but more dual work can tackle these problems.
Solana Policy Institute CEO Miller Whitehouse-Levine echoed the belief in a positive result of a two-part effort, proverb It will “get the brilliant act over the finish line.”