U.S. Treasury Secretary Criticizes Senate for Not Advancing the GENIUS Act: Missed Opportunity for Global Leadership in Stablecoins

According to Mars Finance, U.S. Treasury Secretary Scott Bessent stated on social platform X that the U.S. Senate failed to advance the "GENIUS Act," which he described as a "missed intergenerational opportunity to expand the dominance of the dollar and the influence of financial innovation." He warned that, in the absence of a unified federal regulatory framework, stablecoins will develop amid fragmented state regulations, which is detrimental to the U.S. maintaining its global leadership and could push digital asset innovation overseas.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments