The management and establishment of national innovations for the American Act on Stablecoin from 2025, known as the Genius Act, could not be granted Clroture in the United States Senate on May 8, dealing a tiny blow to the regulation of cryptocurrencies in this country.

The act, sponsored by Senator Bill Hagerty and co -consisting by Senators Tim Scott, Kirstena Gillibrand, Cynthia Lummis and Angel Alsobrooks, received a push at the last minute from Democrats, who valued the bills and aroused concerns about the cryptocurrency of President Donald Donald Trump.

To deal with the fears of the Democrats Senate, the Act has already been changed to conclude the more severe requirements of Stablecoin issuers for further provisions regarding money laundering.

The Genius Act was seen as a double -sided effort to boost the regulatory transparency of digital assets in the United States. Concentration of the bill, Stablecouins used for payment, was seen as the expansion of the dollar dominance on the international arena and the departure from more controversial cryptographic topics.

After the procedure, the leader of the majority of Senate John Thune criticized the Democrats, saying: “Democrats were accommodated at every step […] To be honest, I just don’t understand it. “

This is a developing story, and further information will be added as far as possible.