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Politics

Natalie Chandler

Senate Dems stop Trump's big crypto bill

Melania Trump United States Scott Bessent CNBC

A Trump-backed bill to regulate cryptocurrencies failed to advance in the Senate on Thursday after Republicans couldn't find enough Democrats to overlook the president's growing crypto empire and go along with it.

The so-called GENIUS Act would provide a federal framework for stablecoins, a type of crypto pegged to the U.S. dollar. The industry spent tens of millions of dollars on pro-crypto candidates in the 2024 election who would support such a bill.

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One subscription that gives you access to news from hundreds of sites

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Thousands protest across Colombia against new right-wing president

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