Senate Democrats Block Bipartisan Crypto Bill, Accusations of Obstructing Trump Victory Surface

Senate Democrats blocked a bipartisan crypto bill on Thursday, triggering accusations of political obstructionism. The vote on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act failed to reach the required 60 votes. This bill aimed to establish a regulatory framework for stablecoins. Republicans accused Democrats of blocking the bill to deny President Trump a legislative win. Senator Tim Scott stated it was a vote against Trump's agenda. He added that “Trump Derangement Syndrome has once again hijacked responsible governance in this chamber”. Senator Thune criticized Democrats for not negotiating in good faith. He questioned why Democrats voted against proceeding after previously supporting the bill in committee. Senator Lummis expressed frustration, stating Republicans offered Democrats “the moon and then some” for support.