He argued that without such legislation, stablecoins will remain governed by a fragmented set of state rules rather than a unified federal approach that better supports growth and global competitiveness.
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US Treasury Secretary Bessent lambasts Senate for blocking stablecoin bill, calls it ‘missed opportunity’ for American leadership
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U.S. Treasury Secretary Scott Bessent criticized the Senate’s failure to advance the GENIUS Act as without it, stablecoins will remain governed by a fragmented set of state rules rather than a unified federal approach that better supports growth and global competitiveness
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