The failure of the GENIUS Act represents a major blow to stablecoin legislation, though advocates suggest further bipartisan work could revive the bill in the future.
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Senate Fails Key Procedural Vote on GENIUS Act Stablecoin Bill, 48-49, Despite Support from Thune, Gallego, Warner
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GENIUS Act failing the cloture procedure represents a setback, but advocates suggest that with further bipartisan negotiations, the bill could be revised and reintroduced for passage at a later date
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