Democrats block stablecoin bill in blow to crypto

Legislation to create a framework for payment stablecoins failed to clear a key hurdle on the Senate floor Thursday, after several Democrats voted against moving forward with consideration of the bill.Senators voted 48-49 to end debate on a motion to proceed on the GENIUS Act, short of the 60 votes required to move the measure further along the road to final passage.Senate Democrats who previously supported the GENIUS Act withdrew support for the bill over the weekend, after Republican leadership sought to fast-track a vote on the legislation.The senators accused Republicans of cutting off negotiations early, arguing that the latest ..