🇺🇸 SENATE KILLS CRYPTO BILL—THANKS TO DEMS WHO CHANGED THEIR MINDS

A major crypto regulation bill just face-planted in the Senate, falling short with a 48–49 vote.

The GENIUS Act was supposed to finally lay down rules for stablecoins—but nine key Democrats bailed last-minute, killing its chances.

Led by Sen. Ruben Gallego, the group said the bill was too soft on money laundering, foreign actors, and national security.

Treasury’s response? “The world is watching while American lawmakers twiddle their thumbs.” Ouch.

Source: CNBC, @SecScottBessent