… dominance and U.S. influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework that is more conducive to growth and competitiveness.For stablecoins and other digital assets to thrive globally, the world needs American leadership.
— Treasury Secretary Scott Bessent (@SecScottBessent) May 8, 2025
The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act.
This bill represents a once-in-a-generation opportunity to expand dollar…
The world is watching while American lawmakers twiddle their thumbs. Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore.
… digital asset innovation.Today, Senate Democrats made a deliberate choice to play partisan games rather than do what’s right for the American people. By blocking the GENIUS Act from advancing, they failed to implement the kind of common-sense regulations that would have solidified America’s leadership in…
— Bo Hines (@BoHines47) May 8, 2025
This bill wasn’t about politics—it was about building the future. It was about modernizing our outdated payment systems, and securing our position as the global standard-setter in financial technology. Instead, Democrats caved to fringe ideological factions, abandoning the opportunity to bring clarity to the market and foster American innovation.
With this vote, they chose to stall a transformative piece of legislation that had strong bipartisan support. They had the chance to lead—and instead, they obstructed. The American people are watching, and they will remember who stood in the way of progress.
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