The procedural vote on the U.S. GENIUS Crypto Assets bill did not pass.

According to Gate.io News bot and reported by Decrypt, the key procedural vote on the GENIUS bill failed to pass in the U.S. Senate. Sources revealed that several Democratic lawmakers who originally supported the bill changed their positions to oppose it in Thursday’s vote. These lawmakers raised questions about the anti-money laundering and national security provisions in the latest version of the bill. Despite the Republican side actively pushing for a vote, they could not garner enough support, leading to the bill being temporarily shelved. Previously, the White House had planned a signing ceremony for the Crypto Assets legislative protocol in the Rose Garden in August.