Cryptocurrency

World

Janet

Liberty

Read

<div class="key-points-section"><strong>Key Points:</strong>
 <ul>
  <li>Main event, leadership changes, market impact, financial shifts, or expert insights.</li>
  <li>Yellen criticizes Senate's action on crypto regulation.</li>
  <li>Blocked bill delays stablecoin regulatory framework.</li>
 </ul>
</div>
<figure class="wp-block-image aligncenter size-large"><a href="https://theccpress.com/wp-content/uploads/2025/05/capitol-twilight-yellen-crypto.png" rel="noopener noreferrer nofollow"> </a>
 <figcaption class="wp-element-caption">
  U.S. Senate Blocks GENIUS Act, Sparks Yellen's Criticism
 </figcaption>
</figure>
<p>On May 9, 2025, the U.S. Senate blocked the GENIUS Act, prompting criticism from Treasury Secretary Janet Yellen in Washington, D.C.</p>
<p>The <a href="https://www.bhfs.com/insights/alerts-articles/2025/regulating-digital-dollars-how-federal-bills-stack-up" rel="noopener noreferrer nofollow">U.S. Senate's decision</a> to block the GENIUS Act follows extensive debate over its terms. Treasury Secretary Janet Yellen expressed concerns about the regulatory gap its failure creates. Senator Tim Scott sponsored the bill, which received initial bipartisan support. However, Senator Elizabeth Warren and others opposed it due to unresolved issues.</p>
<blockquote>
 "The Senate's decision to block the GENIUS Act is disappointing and undermines the progress we need in establishing a comprehensive regulatory framework for cryptocurrencies." — Janet Yellen, U.S. Treasury Secretary
</blockquote>
<p>The failed passage of the GENIUS Act affects the stablecoin market dynamics. <a href="https://www.hagerty.senate.gov/wp-content/uploads/2025/02/GENIUS-Act.pdf" rel="noopener noreferrer nofollow">World Liberty Financial postponed</a> listing its USD1 stablecoin, citing regulatory uncertainties. Questions about foreign investments have emerged, highlighting concerns about U.S. market stability in digital assets.</p>
<p>The decision generates potential leftover impacts on the financial landscape, influencing political, regulatory, and business sectors. The ongoing discussions on stablecoin regulation remain crucial, as stakeholders debate the need for a comprehensive framework.</p>
<p><a href="https://www.banking.senate.gov/newsroom/minority/on-senate-floor-warren-outlines-critical-fixes-needed-for-democrats-to-support-genius-act-outlines-concerns-on-trumps-stablecoin-corruption" rel="noopener noreferrer nofollow">Experts suggest</a> that the blocked legislation might influence future regulatory approaches in the crypto industry. Historical attempts at regulation, like the 2021 recommendations, indicate persistent challenges. Stakeholders are concerned about geopolitical influences on domestic financial policies and market stability.</p> 
<figure class="wp-block-table">
 <table class="has-fixed-layout">
  <tbody>
   <tr>
    <td><em><strong>Disclaimer:</strong></em><br><em><br>The content on <a class="" href="https://theccpress.com/" rel="noopener noreferrer nofollow">The CCPress</a> is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.</em></td>
   </tr>
  </tbody>
 </table>
</figure>    <a href="https://theccpress.com/senate-genius-act-yellen-criticism/" rel="noopener noreferrer nofollow">Read original article on theccpress.com</a>

U.S. Senate Blocks GENIUS Act, Sparks Yellen's Criticism

Cryptocurrency Press

Other articles published on May 9, 2025

Rumble to Launch Bitcoin and Stablecoin Wallet in 2025

Binance Coin Eyes $700 Breakout as BSC Fees Plunge 90%

Ethereum (ETH) Price Reclaims $2,000, More Upside Expected

Bitcoin Surges Past $100K as Growth Rate Turns Bullish Once Again

Notgram Completes Final Task: Will HTX Listing Ignite a Rally?

Act Fast as Troller Cat’s Presale Price Climbs in Hours While Peanut the Squirrel Shines, Cheems ...

Join our free newsletter for daily crypto updates!