Democrats block stablecoin bill in blow to crypto

Democrats Block Stablecoin Bill as They Raise Concerns About Trump's Crypto Ventures

WASHINGTON (AP) — Senate Democrats have blocked legislation to regulate stablecoins, a form of cryptocurrency, after arguing that the bill needed stronger protections and airing concerns that it could help President Donald Trump enrich himself.

Bessent Fumes Over “Missed Opportunity” After Democrats Block Stablecoin Bill

(Zero Hedge)—Treasury Secretay Scott Bessent slammed Senate Democrats on Thursday for nuking a stablecoin bill that they began stalling on earlier in the week. “For stablecoins and other digital assets to thrive globally, the world needs American leadership,” Bessent posted on X. “The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act.” The GENIUS Act of 2025 (Guiding and Establishing National Inno…

Senate narrowly rejects cryptocurrency bill pushed by Treasury Sec. Bessent

Democrats defeated the bill after negotiating on the bipartisan legislation.

Stablecoins are back in focus as Senate Democrats reject legislation approving their use

Stablecoins have come into focus on Thursday, as Democrats opposed legislation aimed at creating a legal pathway for the digital tokens.

Crypto Bill Falters In Senate

On Thursday, a group of mostly Senate Democrats derailed a cryptocurrency regulation bill backed by the Trump administration, at least for the time being.The GENIUS Act failed to advance in a 48-49 vote, with Sens. Rand Paul (R-KY) and Josh Hawley (R-MO) joining Democrats in opposing the legislation. It needed 60 votes to bypass the procedural hurdle.Senate Majority Leader John Thune (R-SD) reportedly switched his vote to “nay” in a move that al…

Major crypto bill fails key vote

Democrats are fighting for changes to prevent Trump from profiting off stablecoins.