News

Senate Democrats successfully delayed a floor vote Thursday on a Republican-crafted bill that would create a regulatory structure for stablecoin issuers, including for anti-money laundering purposes. After Republicans took turns at the dais urging their colleagues to support the measure, a motion to invoke cloture on the latest iteration of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act, which Sen. Bill Hagerty (R-TN) introduced May 1, gained only 48 of the 60 votes required to end debate. "Just minutes ago, an American was elected Pope," Sen. Cynthia Lummis (R-WY), one of the bill's three co-sponsors,...