In a rare occurrence, which may only last for a week, Democrats in the Senate showed some spine and voted down an important procedural vote on the GENIUS Act, a bill that would establish a (very weak) regulatory framework for the use of stablecoins.

A bipartisan effort to establish a regulatory framework for stablecoins hit a wall in the Senate on Thursday afternoon, as Senate Democrats rallied to block a motion to proceed on the Guiding and Establishing National Innovation for U.