logo

US Cryptocurrency Friendly GENIUS Bill Rejected! US Treasury Secretary Made a Statement!

By: bitcoin ethereum news|2025/05/10 10:00:13
0
Share
copy
The stablecoin law called “GENIUS Act”, which has been expected to be approved in the USA for a long time, was rejected by the US Senate. The GENIUS law was rejected in a critical vote with 48 “yes” and 49 “no” votes. US senators such as Senator Cynthia Lummis expressed disappointment over the rejection of the GENIUS Act, while a statement also came from US Treasury Secretary Scott Bessent. Scott Bessent harshly criticized the Senate’s decision to halt the advancement of the GENIUS Act. He described the GENIUS bill as a generational opportunity to expand dollar dominance and increase U.S. influence in financial innovation, while arguing that stablecoins and cryptocurrencies need U.S. leadership. “The world needs American leadership to enable stablecoins and other digital assets to thrive globally. The Senate missed an opportunity to provide that leadership by not advancing the GENIUS Act today. This bill represents a once-in-a-generation opportunity to expand dollar dominance and U.S. influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations rather than a streamlined federal framework more conducive to growth and competition. Senators who voted to stifle U.S. creativity today face a simple choice: Either step up and lead, or watch as digital asset innovation moves offshore.” *This is not investment advice. Source: https://en.bitcoinsistemi.com/us-cryptocurrency-friendly-genius-bill-rejected-us-treasury-secretary-made-a-statement/

You may also like

How to balance risk and return in DeFi yields?

Have these yields ever been reasonable? Have we ever received the compensation we deserve for the risks taken in DeFi, and where should the future spreads be set?

Tom Lee's Ethereum Thesis: Why the Man Who Called the Last Cycle Is Doubling Down on Bitmine

Tom Lee is emerging as one of Ethereum’s most influential supporters. From Fundstrat to Bitmine, his Ethereum thesis combines staking yield, treasury accumulation, and long-term network value. Here is why “Tom Lee Ethereum” has become one of crypto’s most watched narratives.

Naval personally takes the stage: The historic collision between ordinary people and venture capital

Naval personally stepped in as the chairman of the USVC Investment Committee. This SEC-registered fund launched by AngelList attempts to bring top private tech assets like OpenAI, Anthropic, and xAI to the general public with a $500 entry threshold. It is not just a new fund, but a structural experi...

a16z Crypto: 9 Charts to Understand the Evolution Trends of Stablecoins

Stablecoins are evolving from trading tools into universal payment infrastructure, and this process is quieter and more thorough than most people expected.

Refutation of Yang Haipo's "The End of Cryptocurrency"

This may be the true test of cryptocurrency. It's not about whether the price has reached a new high, nor about who will achieve financial freedom in the next bull market, but rather whether, after all the grand narratives have been washed away by cycles, it can still leave behind some simpler, more...

Can a hairdryer earn $34,000? Interpreting the reflexivity paradox of prediction markets

Prediction markets are essentially betting on reality, and when participants can access or even influence this path earlier, the market no longer just reflects reality but begins to shape it in return.
The Joker is back
Bigger pools, auto-play, lucky buffs.
The Joker is backJoin now and grab your rewards.

Popular coins

Latest Crypto News

19:42

JPMorgan executives: Tokenization will change ETFs and the entire fund industry, but it will take several years to see good use cases

According to The Block, Ciarán Fitzpatrick, the global head of ETF products at JPMorgan Securities Services, stated: "We believe that tokenization will definitely drive changes in the market, not only for ETFs but for the entire fund industry as well."Ciarán Fitzpatrick pointed out that given the ma...
19:42

Vietnam plans to launch a pilot project for cryptocurrency assets, transforming unregulated crypto trading into a regulated domestic market

The Vietnamese government plans to launch a 5-year pilot project for crypto assets in the second quarter of 2026, transitioning from previously offshore unregulated crypto trading to a domestically regulated market. Currently, Vietnamese traders have an annual cryptocurrency trading volume of $220-2...
19:42

In the past 7 days, El Salvador has increased its holdings by 8 BTC, with a total holding of 7,633.37 BTC

El Salvador has added a total of 8 bitcoins in the past 7 days and 31 bitcoins in the past 30 days. Currently, its bitcoin holdings amount to 7,633.37 bitcoins, with a total value of 624 million dollars.
18:42

Hyperliquid HYPE position TOP1 address long floating profit of 3.42 million USD

According to on-chain analyst Ai Yi's monitoring, the top address holding HYPE on Hyperliquid has realized a floating profit of 3.42 million dollars, having once faced a floating loss of 23.18 million dollars. This address began making large long positions on HYPE at the end of October last year and...
18:42

Data: If BTC falls below $74,142, the cumulative long liquidation intensity on mainstream CEX will reach $916 million

According to Coinglass data, if BTC falls below $74,142, the cumulative long liquidation intensity on mainstream CEX will reach $916 million. Conversely, if BTC breaks above $81,342, the cumulative short liquidation intensity on mainstream CEX will reach $766 million.
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com