Back to today’s briefing

Story perspectives

Senate Rejects GENIUS Act, Crypto Regulation in Limbo

5/9/2025

35 2

Summary

Senate Defeats GENIUS Act

In a nail-biting Senate showdown, the GENIUS Act aimed at regulating stablecoins was narrowly defeated with a 48-49 vote. Democrats rallied against the proposal, raising alarms over consumer safety and ties to President Trump's crypto dealings. With bipartisan talks crumbling, the path forward for crypto legislation remains shrouded in uncertainty.

Summary

Milei's Bill Defeated

In a dramatic Senate showdown, Argentina's lawmakers narrowly rejected President Javier Milei's 'Ficha Limpia' bill, which sought to disqualify candidates with corruption convictions, notably targeting former President Cristina Fernández de Kirchner. The vote ended at 36-35, just shy of the required 37, potentially paving the way for Milei's electoral advantage against a formidable opponent.

1 of 2

Senate Defeats GENIUS Act

In a nail-biting Senate showdown, the GENIUS Act aimed at regulating stablecoins was narrowly defeated with a 48-49 vote. Democrats rallied against the proposal, raising alarms over consumer safety and ties to President Trump's crypto dealings. With bipartisan talks crumbling, the path forward for crypto legislation remains shrouded in uncertainty.

1 / 2