The Senate's efforts to pass a crucial stablecoin bill, the GENIUS Act, are in jeopardy after failing to secure a vote last week. This legislation, which aims to establish a regulatory framework for stablecoins in the U.S., appears to be stagnating in the Senate as the deadline for filing a motion to reconsider has passed. Supporters of the bill blame disagreements over new draft language regarding anti-money laundering and national security protections for the lack of progress. Political dynamics complicate the situation further, as some lawmakers are concerned about the implications of President Trump's recent financial dealings on their support for the legislation. Stakeholders warn that if significant progress is not made soon, it could signal the end of not only the GENIUS Act but other critical legislative initiatives for the crypto industry as well. Ongoing discussions between both parties aim to find common ground, but time is running out for the bill's supporters in Congress.

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