US EditionSenate fails to advance first ever crypto regulatory legislation
- The U.S. Senate failed to advance the GENIUS Act, a stablecoin regulatory bill, on May 8, 2025, during a cloture vote in Washington, D.C.
- The legislation aimed to create the first federal framework for stablecoins but faced opposition mainly from Democrats concerned over insufficient consumer and anti-money laundering safeguards.
- Stablecoins are cryptocurrencies tied one-to-one to assets like the U.S. Dollar, operating today without required reserve backing or federal protections that the GENIUS Act sought to enforce.
- The final tally was 48 votes in favor and 49 opposed, as Democrats unanimously voted against the measure along with three Republican senators. Senate Majority Leader John Thune expressed that stablecoin issuers attempting to comply with regulations are uncertain about which rules apply.
- The failure highlights ongoing partisan tensions and leaves stablecoin legislation uncertain, though talks were expected to continue with a target to finalize rules by August 2025.
18 Articles
18 Articles
Senate Fails to Advance Stablecoin Bill as Partisan Divide Widens
The U.S. Senate came close to passing long-awaited stablecoin legislation this week — but ultimately, politics prevailed over policy. The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), was blocked on the floor in a 48–49 cloture vote. Though the vote was a procedural step to allow for debate, and potentially a quick floor vote thereafter, this sudden roadblock sent a loud message: a widely negotiated legisla…
Senate fails to advance first ever crypto regulatory legislation
The Senate failed to advance cryptocurrency legislation that would create a regulatory framework for stablecoins and companies that want to be licensed to issue stablecoins. The Genius Act had bipartisan support when it was first introduced, but it fell short after two Republicans, Sens. Josh Hawley, Mo., and Rand Paul, Ky., joined Democrats in voting against it. Democrats contend that its consumer and money laundering protections don’t go far e…
Pro-Crypto GENIUS Act, for Now, Falls Short of Advancing in Senate
This afternoon, a major cryptocurrency industry-supported bill, the GENIUS Act, fell short of proceeding in the Senate. Several key Democrats who had been negotiating with Republicans to advance the legislation, which would establish a regulatory framework for the digital assets known as stablecoins, opted against moving forward with the version of the bill in front of them—for today, at least.Ahead of the vote, Sludge reported with More Perfect…
Senate Blocks GENIUS Act After Losing Key Support, Stalling Stablecoin Regulation Push
The Senate failed to advance the GENIUS Act after losing support from key Democrats over security concerns. The vote collapse delays stablecoin regulation and raises doubts about future crypto legislation in Congress. Lawmakers now expect the GENIUS Act to return to committee before it can move forward again. The US Senate has blocked progress on the GENIUS Act, halting a major step toward regulating stablecoins. A procedural vote on Thursday fa…
Ripple CEO warns of US falling behind without stablecoin regulation - Coin Surges
Ripple CEO Brad Garlinghouse has called on US lawmakers to accelerate efforts to establish a clear regulatory framework for stablecoins. In a May 9 statement shared on social media platform X (formerly Twitter), he emphasized the growing global adoption of stablecoins and warned that the US risks losing its competitive edge without urgent action. Garlinghouse pointed to the rapid integration of stablecoins in global markets, stating that practic…
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